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UK energy minister Anne-Marie Trevelyan told an industry audience the government hoped to sign off “imminently” on the so-called North Sea Transition Deal following months of negotiations with industry.
Trevelyan was speaking during a webinar organised by trade body Oil & Gas UK (OGUK), shortly before Chancellor of the Exchequer Rishi Sunak delivered his annual Budget statement to parliament.
Sunak announced government would make available £27m ($38m) for an Energy Transition Zone (ETZ) in Aberdeen, Scotland, the home of UK’s North Sea oil sector, in a first step towards delivering the wider deal.