Boris Johnson’s plan to keep the lights on as the world weans itself off Russian oil and gas in response to the invasion of Ukraine as been delayed and may not appear until the end of March, it has emerged.
News of the delay emerged amid expectation that the prime minister will shortly visit Saudi Arabia to ask the oil-rich kingdom to step up production to give buyers an alternative to Russian supplies.
Any trip would be diplomatically awkward, coming soon after Saudi Arabia announced it had executed 81 people in the largest mass use of the death penalty for many years.
The prime minister said a week ago on 7 March that a new energy supply strategy would be unveiled in the coming days to set out a “step by step” move away from Russian hydrocarbons. He later said the UK will stop imports of Russian oil, but not gas, by the end of 2022.
And he repeated the promise to MPs at prime minister’s questions last Wednesday, when he said his “energy independence plan for this country” would be set out “in the course of the next few days”.
He indicated that it would involve a boost to nuclear and renewable sources of energy, but was also likely to include stepping up North Sea oil and gas production in the shorter term to help the transition to carbon-free energy.
And he sparked speculation that he may give the green light to fracking for shale gas, after Downing Street said he was looking at “all options” to boost the UK’s homegrown energy supply.
But it is now understood that the plan is unlikely to be published this week and may not come until the end of March.
Mr Johnson was today hosting leaders of the UK’s offshore oil and gas industry at Downing Street to discuss energy security and investment in the North Sea.
But No 10 continued to set its face against calls for a windfall tax on the companies, which are enjoying surging profits as the war in Ukraine and international sanctions drive energy prices sky-high.
Labour and Lib Dems have called for a one-off tax to cushion the blow of household gas and electricity bill rises expected to total as much as £1,700 for the typical household this year and fuel prices which have topped £1.60 a litre at the petrol pumps.
But Mr Johnson’s spokesperson said: “The government’s view remains a windfall tax could deter investment opportunities, put jobs at risk and could risk the security of our energy supply. That remains our position.”
The PM’s official spokesman said government wanted to reduce volatility in the oil market and bring down prices.
Asked whether the UK would like to see the Saudis increase oil production, the spokesman said: “We will be speaking to the Saudis about a range of issues, not just energy supply.
“Diversifying our energy supply is important, as is boosting renewable energy. There are no quick fixes but we do want to reduce the volatility and bring prices down.”
