North Sea Oil and Gas Industry

Brian Leishman Excerpts

Monday 27th October 2025 Commons Chamber

[Michael Shanks]

I reject the hon. Member’s assertion that this Government are somehow following a course without looking at the evidence. Clearly, oil and gas is a crucial part of our energy mix and will be for decades to come—we have been clear on that—but so too is building up what comes next. That means investing in the supply chains that were so often not part of the building of infrastructure that we have in our waters. We towed things in and switched them on, but had none of the jobs that went with them. We are determined to change that, but that comes with having a credible industrial strategy and a long-term plan for the future of the North sea, which we did not have under 14 years of the previous Government.

[Brian Leishman (Alloa and Grangemouth) (Ind)]

Incredibly, it is now eight months since the Prime Minister announced £200 million from the National Wealth Fund for the industrial future of Grangemouth. I have had meetings with numerous companies that have proposals and are, frankly, impatient to get started. When will this money be spent, and when will those jobs come to my town? All there is to show for it so far are the bones of an unjust transition and industrial devastation.

[Michael Shanks]

We have been looking at a number of proposals. I met the five companies that are the frontrunners for National Wealth Fund investment, along with the Scottish Government Energy Minister. A number of propositions are to be taken forward, and I hope we will have an announcement to make in due course. Of course, we have been trying not to just spend £200 million on the first thing that comes along but to find the genuinely long-term, viable industrial opportunities that deliver jobs at Grangemouth, not just for a year or two but long into the future. The hon. Gentleman is right that for far too long the site has been the victim of a lack of planning, and it is an example of a just transition done wrongly. We want to make that different by having a serious plan for long-term jobs on the site. The NWF has brought companies to the table, and we will deliver an announcement on that in due course.