A leading oil and gas producer has warned the UK could be “starved” of North Sea energy under Labour energy plans.

Labour leader Sir Keir Starmer last week said the party would grant no licences to explore fresh fields in the North Sea, calling a wait until UK oil and gas runs outs an “historic mistake”.

But the executive chairman of Ithaca Energy, which has the bulk of its investment in the North Sea, has warned such a ban and existing taxation policy was putting off investors and threatened energy security.

Gilad Myerson told the BBC: “By a new government imagining they’ll be able to stop licences and oil development in the UK, ultimately what that means is that they’ll be starving the UK of energy, and it will become very dependent on energy from abroad.

“Politicians keep making statements which spook investors. You have to make sure that the environment is stable because this is a project that will last for 10 years.”

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