Shell plc has received U.K. government authorization to begin production at the Jackdaw gas field, a joint venture with Equinor. Operations are expected to start within weeks, with gas supply anticipated by the end of October.
At peak production, Jackdaw is projected to increase the U.K.’s domestic gas output by approximately 6%. The project is expected to contribute £2.9 billion to the U.K. economy over its 11-year lifespan.
The approval concludes a lengthy process. The project is seen as a key step in strengthening the U.K.’s energy security amid global market volatility. The news follows routine announcements about Shell’s ongoing share buyback program.