Comment on LionLink interconnector

"The North Sea oil and gas basin is in terminal decline, so unless the deployment of renewables as well as electric heat pumps and the basics like home insulation is sped up, we’ll become more dependent on foreign gas imports.

“Under current government policy, these imports are set to increase, but cooperation like this should bring greater energy resilience and cheaper bills for households. The UK could get on track to being a net energy exporter."

The announcement, at today’s North Sea Summit in Ostend, Belgium, comes as ECIU analysis published today shows that the Government’s stated aim for the UK to be energy independent will not be realised under policy announced for its recent ‘Energy Security Day’ [2].

The analysis shows that accelerated deployment of net zero technologies could cut gas demand by two-thirds (65%) by 2035, and net imports by 55%. But with current policies lagging for insulation and heat pumps, and with the renewables sector facing barriers including recent tax changes, the UK could conceivably reach 2035 with just a 10% cut in demand and a 60% increase in net imports.