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UK Delays Jackdaw Gasfield Decision Until After By-Election

Financial Times Markets •
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Ministers have pushed back a decision on the Jackdaw gasfield in the North Sea until October at the earliest, as Labour prepares for a by-election in Sir Keir Starmer's old London seat. The move was described by one Labour figure as a "political decision" ahead of the Holborn and St Pancras by-election.

The Conservative Party attacked the delay, claiming it shows Labour is putting politics ahead of energy security amid rising natural gas prices due to the Iran war energy shock. Shadow energy secretary Andrew Bowie said the delay was "nothing short of placing the interests of the Labour Party before the interests of Great Britain."

Green Party leader Zack Polanski, standing in Starmer's former constituency, said Labour wanted to "allow new North Sea drilling" and that a win on October 8 would "add pressure on Labour to reverse this shortsighted and dangerous plan."

Jackdaw, about 150 miles east of Aberdeen, is a joint project between Shell and Equinor. A decision this month might have allowed gas production as soon as this winter. The government is torn between MPs wanting lower energy costs and those concerned about environmental impact.