Hundreds of new North Sea oil and gas licences have been approved as Rishi Sunak makes oil and gas a firm part of Britain’s “transition to net zero”.

The Prime Minister will travel to Aberdeenshire today to unveil the contracts and new carbon capture projects, as new analysis shows domestic gas production has around one-quarter the carbon footprint of imported liquified natural gas.

Mr Sunak said the projects were vital for Britain’s energy security amid the war in Ukraine and pointed to a report by the independent Climate Change Committee which said a quarter of Britain’s energy needs will still come from oil and gas even if Britain reaches its net zero target in 2050.

North East Scotland and the Humber chosen as locations for two new carbon capture usage and storage clusters, which could support up to 50,000 jobs.

Mr Sunak said: “We have all witnessed how Putin has manipulated and weaponised energy – disrupting supply and stalling growth in countries around the world.

“Now more than ever, it’s vital that we bolster our energy security and capitalise on that independence to deliver more affordable, clean energy to British homes and businesses. 

“Even when we’ve reached net zero in 2050, a quarter of our energy needs will come from oil and gas. But there are those who would rather that it come from hostile states than from the supplies we have here at home.

“We’re choosing to power up Britain from Britain and invest in crucial industries such as carbon capture and storage, rather than depend on more carbon intensive gas imports from overseas – which will support thousands of skilled jobs, unlock further opportunities for green technologies and grow the economy.”

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