The Government has repeatedly delayed approval for the Jackdaw gas field in the North Sea, which contains an estimated 15 billion cubic metres (bcm) of gas.
If switched on, it could produce 1.4bcm per year – about 2.5pc of total UK demand. However, the decision has been repeatedly delayed because of objections from green groups and Labour backbenchers.
Seb Kennedy, an analyst at Energy Flux, said: “Even when full, UK storage holds less than eight days of average winter demand; today it holds under four. Germany has roughly six weeks in the tank, and Italy and France more than 10.
“Approving Jackdaw will not help this winter … Even with a quick approval it would take time to ramp up, and it would supply a small share of UK demand.”
The analyst added: “Britain’s gas price is set by the last LNG cargo it has to attract. Jackdaw’s value is longer term: slowing the rise in import dependence as North Sea output falls.”
A government spokesman downplayed the risk. “We have a diverse energy mix and are confident in our security of supply. Gas is sold on the international market and the price is not connected to our storage capacity – which was only 5pc of our supply last winter,” the spokesman said.
