London, Europe Brief Europe – The UK has opened a new licensing round for companies to explore for oil and gas in the North Sea.
Nearly 900 locations are being offered, with as many as 100 licences set to be awarded.
The UK decision is at odds with international climate scientists who say fossil fuel projects should show down.
There can be no new projects if there is to be a chance of keeping global temperature rises under 1.5C.
Both the Intergovernmental Panel on Climate Change (IPCC), the global body for climate science and the International Energy Agency (IEA) have expressed such a view.
The government’s own advisers on climate change said in a report earlier this year that the best way to ease consumers’ pain from high energy prices was to stop using fossil fuels rather than drill for more of them.
Business Secretary Jacob Rees-Mogg says the new exploration will boost energy security and support skilled jobs.
And supporters of new exploration insist it is compatible with the government’s legal commitment to reach net-zero greenhouse gas emissions by 2050. They say the North Sea fossil fuel will replace imported fuel and so have a lower carbon footprint in production.
Licences are available for 898 sectors of the North Sea
“Putin’s illegal invasion of Ukraine means it is now more important than ever that we make the most of sovereign energy resources,” Mr Rees-Mogg said in a statement.
The licensing process will be fast-tracked in parts of the North Sea that are near existing infrastructure. So, they have the potential to be developed quickly. It says the average time between discovery and first production is close to five years but that gap is shrinking.
