This month, Energy Secretary Miatta Fanhbulleh has allowed consent to be granted for gas to be produced from the Jackdaw oil field, following extensive consideration in relation to the Government’s wider agenda and approach on environment.
This decision, which has enabled a project that will begin supplying gas to British homes and businesses from this winter, is set to increase domestic gas production by roughly 6% at its peak, support skilled jobs across the North Sea and add an estimated £2.9 Billion to the UK economy.
Alongside this announcement, the Government confirmed that a new North Sea Energy Wealth Fund would be established by the Chancellor to reinvest oil and gas revenues into the clean energy transition, helping us to achieve net zero by 2050. The new fund will start with an initial £2 Billion injection of funding, with future revenues from the North Sea flowing into the fund over time.
At a time of global instability, homegrown energy can act as a source of national strength. Every step taken towards energy independence makes Britain stronger, with less exposure to international markets, greater resilience to global shocks and cheaper energy for households and businesses. This Government has a duty to manage domestic production responsibly in the short term and transition to clean, home-grown power in the long term.
As demonstrated by recent events in Russia and the Middle East, when gas prices surge around the world, it is working people and businesses in this country that pay the price. Without greater control, we cannot protect ourselves and our communities. Energy independence is the only route to lasting security and affordability, and this Government will deliver it.
However, this Government also acknowledges that after a summer of heat waves and extreme weather, the importance of tackling climate change cannot be more clear. We have a responsibility to move away from fossil fuels towards cleaner, greener energy protecting future generations and the communities we love.
But even on the path to net zero, the UK will still require oil and gas as part of its energy mix for decades to come. Portsmouth people can be reassured that the decision is compatible with our legally binding climate commitments, and that we remain resolute in ending new licences for oil and gas projects.
Since coming into office in 2024, this Government has taken decisive measures and secured major investment to deliver the most significant energy transition in over a century, including:
- Acquiring enough clean, home-grown solar and wind energy to power 23 million homes through two successful renewables auctions
- Signing a deal with the National Wealth Fund to build Sizewell C, which will provide clean power to 6 million households, and countless jobs
- Investing £2.6 Billion into development of Small Modular Reactors, including through a deal between Great British Energy Nuclear and Rolls Royce SMR
- Providing funding for 53 community renewable energy projects through our Local Power Plan, with an aim to support 1,000 projects across the UK
- Launching People’s Power projects, with an initial £30 Million investment, so communities can progress plans for their own clean power projects – from solar panels on local buildings to village-owned wind farms
- Seeing 172,000 domestic solar installations since the start of 2026 alone
- Marshalling over £100 Billion of private investment announced into clean energy
- Enabling the net zero economy to add £105 Billion in gross value added (GVA) to the UK economy
I acknowledge and understand the importance of the climate crisis, which is why I am continuing to take action on this important priority for our city.
Examples of my action on climate can be read about in further detail here.
Additionally, I recently launched my climate survey to allow local people to have their say on the climate crisis to inform further action taken by myself and by the Government. This can be found here.
I am assured that the Energy Secretary to ending new oil and gas exploration licensing remains unchanged, and we will legislate for it in the Energy Independence Bill shortly.
Stephen Morgan MP
