GMB, the energy union, says the decision to pause the Cambo oil field project amounts to a ‘surrender of the national interest.’
The firm behind the development off Shetland is reported to be ‘pausing’ the project.
Cambo was expected to have delivered 170 million barrels of oil equivalent and 53.5 billion cubic feet of gas during its 25-year operational life – enough to power 1.5 million homes for a year. [2]
The latest OGUK research shows in the year to June, the UK paid almost £20 billion to foreign countries for oil and gas imports, including:
• Norway £5.2 billion for gas plus £6.1 billion for crude oil
• Russia £524 million for gas and £3.2 billion for oil
• Qatar £675m for liquefied natural gas
• USA £2.8 billion for crude oil. [3]
Gary Smith, GMB General Secretary, said:
“It’s meant to be a transition to a low carbon economy, not a surrender of the national interest.
“The cheerleaders for Cambo’s shutdown aren’t just throwing energy workers under the bus, but also our security of supply for the gas we will still need on the road to 2050.”
