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The UK intends to shift its heavy investment in renewable energy to domestic oil and gas investment

 Last Update: 2023-02-18
 Source: Internet
 Author: User

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According to World Oil on June 10, this week, the British government and Shell held talks in London to discuss North Sea oil and gas
.

Comments by Shell CEO Van Burden and UK Business Secretary Kwasi Kwarten underscored a profound shift in
energy policy.

Regulators last week approved Shell's development of the Jackdaw gas field in the North Sea, having previously rejected the project on environmental grounds
.
The energy giant also has a stake in the controversial Campo oil development in which it was put on hold last year amid climate protests
.

Speaking to employees on 7 June, Van Burden said: "Responsible production, local natural gas plays a vital role
in the UK's energy security and transition to net zero emissions.
The full text of the speech is posted on Shell's website
.

Kwarteng, who attended the event, said in a LinkedIn post that the UK had to be "realistic" about its energy needs given the surge in commodity prices
.

"We want to make sure that the resources we have in the North Sea are not wasted because our oil and gas reserves will ensure our national security
," Kwarteng said.
”

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