Boris said the oil and gas industry has an important part to play in producing the energy needed to move away from Russian hydrocarbons and transition to sustainable energy.
At the roundtable meeting, Johnson and CEOs discussed increasing investment in the North Sea oil and gas industry and boosting the supply of domestic gas. Proposals included ways the U.K. can remove barriers facing investors and developers and help projects come online more quickly. The U.K. said last week it would phase out oil imports from Russia, which account for around 8% of the country’s oil supply. The U.K.’s European allies are anticipated to have a tougher time weening themselves off Russia’s oil, given their great reliance on imports.
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