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ENERGY SECURITY

UK PM Boris Johnson speaking at a presser alongside Canadian PM Justin Trudea and Dutch PM Mark Rutte following tripartite talks regarding Ukraine.

  • Johnson says that energy sanctions [on Russia] are 'very much on the table' and that when it comes to energy sanctions 'everyone is on the same journey'. Comes in contrast to German Chancellor Olaf Scholz who a short time ago said energy sanctions were not on the table.
  • Pippa Crerar at The Mirror tweets: "Boris Johnson says he'll be setting out new 'energy supply strategy' in coming days to help address issue of soaring energy prices during Ukraine crisis. Johnson reveals UK may use "more of our own hydrocarbons" - so more drilling in North Seas - in response to energy supply crisis. PM claims he's not abandoning green goals but warns "there is a crunch" on right now and UK needs to "intensify our self-reliance" on energy."
  • Lucy Fisher at The Telegraph tweets: "Certainly sounds like Boris Johnson is looking at more North Sea drilling and/or rethink of fracking moratorium, in wake of Ukraine war & need to cut Western use of Russian gas.
    At present licences for N Sea oil/gas extraction handled by independent body. Cd Govt take charge?
    "
MNI London Bureau | +44 203-865-0981 | tom.lake@marketnews.com

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