Would more North Sea gas lower prices?published at 14:02 GMT 18 March
By Ben Chu
We're ending our live coverage of today's Prime Minister's Questions, but we'll leave you with an analysis from BBC Verify following a question to Starmer about energy.
Reform UK leader Nigel Farage asked the prime minister to consider increasing extraction of natural gas in the North Sea, saying it would lead to “thousands of jobs, increased tax revenues and cheaper gas prices”.
Granting new licences for drilling might well safeguard jobs in this sector and lead to higher tax revenues but it’s not clear that it would make gas prices cheaper.
The UK is highly integrated with the European gas market, being physically linked with the wider continent through undersea pipelines.
Private energy companies operating in the UK’s section of the North Sea do not sell gas exclusively to UK customers, they sell into this pan-European market and the UK wholesale price tends to move in line with the European wholesale price.
Experts told us the potential additional supply available from granting more exploration licences to get more gas from the North Sea would not be big enough to significantly move the European price and hence would be unlikely to reduce the price for UK consumers.






