Offshore Energies UK (OEUK) has urged newly appointed Energy Secretary Miatta Fahnbulleh to prioritise domestic energy production and meet industry representatives to discuss the future of the North Sea.
The trade body said the new government has an opportunity to support workers, businesses and communities by backing homegrown energy while delivering on the Prime Minister’s ambition to reindustrialise Britain.
OEUK is calling for regulatory approval of projects including Jackdaw and Rosebank, alongside continued support for renewable energy developments. It also wants the proposed Oil and Gas Revenue Levy introduced and the current ban on new exploration reversed.
The organisation argues that relying on imported oil and gas does not reduce UK demand, but instead increases dependence on overseas supplies and exposes the country to greater geopolitical risk.
According to OEUK, liquefied natural gas imported from countries such as the United States and Qatar generates four times the carbon emissions of UK-produced North Sea gas.
The trade body also claims reforms to the North Sea’s regulatory and tax framework could unlock an additional £50 billion of oil and gas investment. Over the next decade, this could increase capital investment by £26 billion, generate more than £13 billion in tax revenues and support thousands of jobs.
OEUK said the reforms could also reduce the share of imported LNG in UK gas supplies to 6% by 2035, compared with 46% without policy changes.
The organisation also highlighted recent polling by Opinium, which found almost 70% of Labour voters believe the UK should prioritise North Sea oil and gas production, while 9% said it does not matter where supplies come from.
David Whitehouse, chief executive of Offshore Energies UK, said: “The UK will still need oil and gas for decades to come. The question is whether we produce as much of that energy as possible here, supporting our own jobs, communities and economy, or become increasingly reliant on imports while exporting investment and economic value overseas.”
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