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UK regulator rejects Shell's plans to develop N.Sea gasfield -sources

CommoditiesOct 06, 2021 21:41
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© Reuters. FILE PHOTO: The Royal Dutch Shell logo is seen at a Shell petrol station in London, January 31, 2008. REUTERS/Toby Melville/File Photo

LONDON (Reuters) -A British regulator rejected Royal Dutch Shell (LON:RDSa)'s plans to develop the Jackdaw gasfield in the North Sea after considering its environmental statement, industry sources said on Wednesday.

"We’re disappointed by the decision and are considering the implications," a Shell spokesperson said.

It was unclear on what grounds the Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) refused to approve the environmental statement for the field's development.

The Department for Business, Energy and Industrial Strategy, under whose umbrella OPRED operates, did not immediately reply to a request for comment.

The decision comes as Britain and other European countries were saddled with record natural gas and oil prices due to a supply crunch ahead of the cold winter months.

It also comes days before Britain is due to hold the COP26 climate conference bringing decision makers from all over the world together to find a way to keep global warming below 1.5 degrees Celsius compared with pre-industrial temperatures.

UK regulator rejects Shell's plans to develop N.Sea gasfield -sources
 

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Gideon Oberholzer
Gideon Oberholzer Oct 06, 2021 21:38
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Shell has other investment options, take your investment elsewhere if you get this type of response
 
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