UK ‘must become irresistible place to do energy business’

Private sector investment worth up to £100 billion is needed to deliver key projects to safeguard UK energy security, according to the offshore energies industry.

It says total offshore energy spend could reach £200 billion this decade in oil and gas, offshore wind, carbon capture and storage and low carbon hydrogen. The body is calling for pragmatic policy across all political parties ahead of the next general election to safeguard energy security and the homegrown jobs and supply chains needed to build a low carbon future in the UK.

“In recent months we have felt the direct impact of underinvestment in homegrown energy on job security for our workers, the competitiveness of our firms internationally and our future energy bills.

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