In tomorrow’s Budget, Chancellor Rishi Sunak is expected to commit £27 million for the Aberdeen Energy Transition Zone, a first step in delivering on the Government’s promise for a sector deal for the oil and gas industry.  

Sir Ian Wood, Chairman of Opportunity North East, said:
“The Chancellor’s announcement of financial support for the Energy Transition Zone is a hugely welcome boost for Aberdeen and the North East of Scotland.

“Opportunity North East and its partners have maintained a clear ambition to transform the region into a globally integrated energy cluster, focused on accelerating to net zero through energy transition activities. Today’s announcement will help ensure this ambition becomes a reality.

"There is no doubt that the North East is uniquely positioned within Scotland and the UK to take advantage of this massive opportunity. As we continue to transition from oil and gas, the Energy Transition Zone will allow us to develop a world-class supply chain and create new significant green job and investment opportunities.

“We are in advanced discussions with the Scottish Government in terms of securing similar levels of financial support for the Energy transition Zone and are confident we can progress with this exciting new project at pace.

“I’m also particularly pleased that the additional funding is being made available from the UK Government for the North Sea Transition Deal and Global Underwater Hub. Together, these announcements are hugely encouraging for the North East as we continue to play a key role in the green economic recovery."

KeyFacts Energy Industry Directory: Opportunity North East (ONE)