It is estimated that the field will provide enough gas to warm 1.4m homes for an entire decade and will increase the UK’s gas production by 6%. However, this accounts for under 3% of the total gas used in the UK, due to a heavy reliance on imports, which the Government say will be reduced through the approval of the field.

The release of the annual budget is arguably the most important date in the political calendar. Yesterday’s budget from Chancellor of the Exchequer, John Healey, covered a range of topics from defence spending to the cost of energy.