Britain approved the Jackdaw North Sea gas field, which is expected to start supplying gas by the end of October. The government said peak production would raise domestic gas output by about 6%; it also announced a £2 billion Energy Wealth Fund to support the transition to cleaner energy.
Britain approved the Jackdaw North Sea gas field after years of legal and political disputes. Energy minister Miatta Fahnbulleh said it would begin supplying gas by the end of the month. The government said the field would raise domestic gas production by about 6% at peak output and operate for up to 11 years; its planned peak production is 40,000 barrels of oil equivalent per day.
Alongside the approval, the government announced an Energy Wealth Fund with an initial £2 billion investment to channel oil and gas revenues into the transition to cleaner energy. Prime Minister Andy Burnham said it was right to responsibly maximise existing British energy reserves, while Fahnbulleh said bringing Jackdaw into production was compatible with the country’s legally binding target of net zero emissions by 2050.
The government has not yet decided whether to approve the larger Rosebank oilfield, which is slated to produce 70,000 barrels of oil equivalent per day, primarily as oil. Jackdaw is run by Adura, a joint venture between Shell and Equinor. Shell welcomed the approval.
