Mar 18, 2022

Shell resubmits plan to UK regulator for large North Sea gasfield

Shell has resubmitted plans for approval of a large North Sea gasfield as the UK government seeks to boost domestic production to make up for a looming ban on Russian imports. If approved, the oil major said first production could start in 2025 and at its peak the field would supply an estimated 6.5 per cent of the total gas output from the UK sector of the North Sea, producing enough energy to heat 1.4m homes. North Sea oil and gas production has been in decline over the past two decades. In recent days, Kwasi Kwarteng, the energy secretary, has said it would be "Completely insane" for Britain to turn its back on North Sea oil and gas, insisting that boosting domestic reserves would weaken Russian president Vladimir Putin's "Malign grip on the west". Approval of new North Sea fields would be highly controversial, with climate campaigners arguing the UK fossil fuel industry should be wound down and investment prioritised for clean energy technologies.

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