Jackdaw gas field gets green light

Jackdaw will start to supply gas to British homes and businesses from the end of this month, after the Energy Secretary agreed that the regulator can grant consent for gas to be produced at the field. 

The Jackdaw decision is expected to increase domestic gas production by around 6% at its peak – supporting the UK’s gas supply over its lifespan of up to 11 years, boosting our energy security, protecting hundreds of jobs and adding an estimated £2.9 billion to the UK economy.

Recent events in the Middle East have triggered global energy shocks and pushed up bills for families across the country. At a time of global instability, homegrown energy can be a source of national strength.

The Chancellor is also announcing today the establishment of a new Energy Wealth Fund, which will use tax revenues from North Sea oil and gas to invest in renewable and low carbon energy projects and support the green transition.  Reflecting our commitment to the North Sea, this will start with an initial £2 billion injection of funding, with future revenues from the North Sea flowing into the fund over time.

The announcement comes ahead of the Budget, which will set out the government’s plan to deliver good growth in every postcode. By reinvesting Britain’s energy wealth in renewable and low carbon energy infrastructure, the Fund will unlock investment, back the industries of the future and create skilled jobs across Scotland and the UK.