A new major gas field has been discovered under the North Sea which should avoid soaring energy prices

The offshore exploration and production company IOG have discovered a new gas field under the North Sea which will provide the UK with a major energy boost.

This new discovery should help the UK to avoid soaring energy prices and Offshore Energies UK (OEUK), who represent the UK offshore industry have welcomed the news.

Jenny Stanning, external relations manager at OEUK, said, “This new source of gas, from the UK’s own waters, boosts our energy security at time when the Ukraine crisis has reminded us of the urgency and importance of maintaining our own energy supplies.”

IOG chair Fiona MacAulay said, “With heightened energy security risks across Europe and the continued urgency of the energy transition, there has never been a more important time to bring new UK gas resources onstream.

“This is especially true of IOG’s gas which has far lower carbon intensity than imports.”