Jackdaw Approval Right Decision for U.K. Climate Targets, Economy, Wood Mackenzie Says
Dow Jones10-21 17:08
0908 GMT - The U.K. government was right to approve the Jackdaw gas field, and it is better for the country's climate targets and economy, energy analysis group Wood Mackenzie says. "Blocking Jackdaw would require the U.K. to import more emissions-intensive LNG to meet U.K. gas demand", the group's Gail Anderson writes. Blocking it would have increased emissions, not reduced, Anderson adds. Meanwhile, if approval had been withheld it would have sent a negative signal to oil companies operating in the basin, and would have likely seen over 20 billion pounds of greenfield investment lost, Wood Mackenzie says.
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