Peston: Plans for drilling oil and gas in North Sea will NOT cut Russian import dependency

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According to exclusive analysis shared with ITV’s political discussion show, the new plans to increase oil and gas fields in the North Sea will not produce enough gas to replace Russian imports in Britain. Amid the crippling sanctions placed on Russia following the unfolding crisis in Ukraine coupled with the UK set to phase out imports of Russian gas and oil products by the end of 2022, Britain is on track to see prices skyrocket.

Boris Johnson is preparing to unveil a new UK “energy supply strategy”, which could involve more North Sea oil and gas production, reports claim.

The Prime Minister insisted he was not dropping the Government’s commitment to cut carbon emissions, however, stressed the importance for the UK to achieve self-sufficiency in its energy sources.

However, Energy and Climate Intelligence Unit (ECIU), a non-profit initiative on energy and climate issues, shared insight on what this could mean for Russian gas dependency.

Peston’s official Twitter shared the analysis, writing: “Plans to drill six new oil & gas fields in the North Sea will not produce enough gas to replace our Russian imports, according to analysis shared exclusively with #Peston by @ECIU_UK

READ MORE: Heat pump subsidy could help those already planning to ditch gas

ITV’s Deputy political editor Anushka Asthana explained the graphs on the political programme.

She said: “To be fair we do get over half way there by about 2030 but it would take a long time to get anything at all and because the amounts are finite it would eventually slip back as well.

“Another option is to reduce demand. First of all – insulation.

“Upgrading one million poorly insulated homes a year or ramping up heat pump installations to reach 600 thousand per year by 2028.

“Separately, they would both get rid of our reliance on Russian gas imports, but together they do it before the end of this decade.”

 



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