Question Time: Greg Hands says energy discount isn’t a loan
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Since Russia’s invasion of Ukraine, countries in Europe, including the UK have begun looking for alternatives to Russian oil and natural gas. To achieve that, Prime Minister Boris Johnson unveiled his Energy Security Strategy earlier this month which outlined how the UK could end its reliance on imported energy and shift its focus to renewables and low carbon sources.
While the rest of the continent struggles to ditch its addiction to Putin’s gas, the UK is leading the way, as Greg Hands, the Minister of State for Business, Energy and Clean Growth highlighted the steps the country is taking to transition to a “clean, cheap, and sovereign system”.
Speaking to Express.co.uk, the MP for Chelsea and Fulham, said: “The ambitions set out in our British Energy Security Strategy are limitless, and with British generators already providing power to parts of Europe, we are absolutely ready to build the UK into a major clean energy exporter in the coming decades.
“The North Sea oil and gas sector has been a major industrial success story for decades.
“We must keep supporting the UK’s oil and gas industry and the people who work in it, as we transition to a clean, cheap, sovereign energy system.”
The Government estimates that 7.9 billion barrels of oil reserves and resources remain under the North Sea, along 560 billion cubic metres of gas.
According to the Energy Security Strategy, “the North Sea will still be a foundation of our energy security but we will have reduced our gas consumption by over 40 percent by 2030.”
The UK’s decision to focus on the North Sea oil and gas extraction as part of its strategy has been controversial.
Previously, climate activist groups placed strong opposition to the development of the Cambo oilfield in Scotland, in a standoff that eventually led to Shell pulling out of the project, citing high costs due to delays.
After facing heavy opposition from climate change protestors, the development of the oil field was put on hold when Shell pulled out.
Mr Hands criticised those calling for an immediate end to North Sea oil and gas extraction, saying: “Those calling for an immediate end to UK oil and gas ignore the fact that it would make the UK more reliant on foreign imports – it doesn’t reduce demand.
With a renewed focus on North Sea natural gas, experts believe that Shell could return to Cambo and restart development of the project.
DON’T MISS:
NASA’s Mars helicopter spots ‘otherworldly’ wreckage on Red Planet [REVEAL]
Poland outsmarts Putin as Kremlin CUTS gas supplies into EU [REPORT]
Russia threatens to abandon NASA on ISS and join China’s space mission [INSIGHT]
This comes as much of the EU have floundered when it comes to ending their reliance on Russian gas.
Energy experts from the independent research institute Centre for Research on Energy and Clean Air (CREA) have found Russia earned €63billion (£52.8 billion) from the export of oil, gas and coal since the war began on February 24.
Source: Read Full Article
