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Home › Dodgy Deals ›
Dodgy Deal
Jackdaw gas fieldUnited Kingdom

Project – On record

This profile is no longer actively maintained, with the information now possibly out of date
Profile by:
BankTrack
Contact:

Natasha Ion Climate campaigner

Last update: 2022-08-01 00:00:00
A gas field platform in the North Sea. Photo: Rossographer via Geograph UK (CC BY SA 2.0)

Project – On record

This profile is no longer actively maintained, with the information now possibly out of date
Profile by:
BankTrack
Contact:

Natasha Ion Climate campaigner

Last update: 2022-08-01 00:00:00
Why this profile?

Why this profile?

Jackdaw is one of the biggest remaining gas fields in the North Sea, and its high CO2 content makes it an especially polluting field. No project that expands the fossil fuel industry is compatible with the Paris Climate Agreement.

What must happen

Banks should rule out direct financing for the project. Bank financiers should engage with Shell and urge the company to terminate this project, halt its expansion of all fossil fuel extraction and ultimately phase out production in line with the Paris Agreement’s 1.5C goal. In the absence of this, banks should sever ties with Shell.

About
Take Action!
#StopJackdaw
Sectors Oil and Gas Extraction
Location
Status
Planning
Design
Agreement
Construction
Operation
Closure
Decommission

The Jackdaw gas field is located in the North Sea, 275 kilometres east of Aberdeen, Scotland. The area is estimated to contain approximately 58 million barrels of oil equivalent (according to Uplift, using Rystad Energy data). Once developed by Shell, the gas field will incorporate four production wells and a 31-kilometre pipeline that leads to Shell's offshore Shearwater platform.

Impacts

Impact on human rights and communities

Multiple human rights will be violated by Jackdaw, because it is a fossil fuel expansion projects and will therefore contribute to pushing the global temperature rise beyond 1.5C. As such, the human rights to life, water and sanitation, health, food, a healthy environment, an adequate standard of living, housing, property, culture, self-determination and development will be taken from countless individuals. Climate change caused by the fossil fuel industry particularly threatens the rights of women, indigenous communities and all communities on the frontlines of fossil fuel extraction. In 2021, the International Energy Agency stated there is “no need for investment in new fossil fuel supply in our net zero pathway”.


Impact on climate

Climate-related catastrophes will be exacerbated by Jackdaw, because it represents an expansion of the fossil fuel industry. This is incompatible with limiting the global temperature rise to 1.5C, which is essential to mitigate climate change. Jackdaw is one of the 10 largest remaining gas fields in the North Sea, estimated to contain approximately 58 million barrels of oil equivalent (according to Uplift, using Rystad Energy data). It is a high-pressure, high-temperature (HPHT) gas condensate field with high CO2 content, making it an especially polluting field to develop.

Financiers

Shell may seek to finance its development of the Jackdaw gas field through project finance lending or from its own capital. Between 2016 and 2021, 25 commercial banks financed Shell through lending and bonds issuance underwriting totalling USD 65.62 billion. Recent financing includes:

  • Numerous bonds listed on the New York, London and Zurich stock exchanges with maturity dates up to 2052;
  • A USD 10 billion revolving credit facility and a dual currency USD 7.2 billion and EUR 4.4 billion revolving credit facility.

Shell’s debt totalled USD 89.086 billion as of 31 December 2021. See BankTrack's Dodgy Deal profile on Shell for more information on its financiers.

Institution type
Finance type
Year
Companies

Project sponsor

Shell

United Kingdom
Profile
Website
Owns 100%
No companies
Governance
Norms & standards
Other regulations

Applicable norms and standards

Equator Principles
Net-Zero Banking Alliance (NZBA)
OECD Guidelines for Multinational Enterprises
Principles for Responsible Banking (PRB)
The Paris Agreement
UN Guiding Principles on Business and Human Rights

North Sea Transition Deal

Climate Change Committee Sixth Carbon Budget

UK Climate Change Act 

News
BankTrack
Partners
Blog
External
BankTrack news BankTrack blog Partner news Partner blog

Greenpeace lodges legal bid to halt Jackdaw gas field in North Sea

2022-07-28 | BBC News
BankTrack news BankTrack blog Partner news Partner blog

Shell gives final greenlight to Jackdaw gas project in North Sea

2022-07-25 | Reuters
Blog
BankTrack news BankTrack blog Partner news Partner blog

Jackdaw shows once again Shell is failing on climate. So why are its bankers failing to act?

2022-07-19 | The Hague, The Netherlands | Sumeyra Arslan – BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Shell's fossil fuels expansion plans for the UK

2022-06-07 | Shell presentation
BankTrack news BankTrack blog Partner news Partner blog

Jackdaw gas field approval ‘desperate and destructive’

2022-06-07 | ENDS Report
BankTrack news BankTrack blog Partner news Partner blog

Climate campaigners threaten legal battle after Jackdaw wins final approval

2022-06-06 | Express & Star
BankTrack news BankTrack blog Partner news Partner blog

Halting Jackdaw gas field

2022-06-03 | The Ecologist
Blog
BankTrack news BankTrack blog Partner news Partner blog

Banks urged to stop funding Shell if it proceeds with Jackdaw gas field

Climate activists have urged banks to sever financial ties with Shell if it goes ahead with plans to develop a controversial new gas field in the North Sea.
BankTrack mentioned
2022-06-03 | The Ferret
Blog
BankTrack news BankTrack blog Partner news Partner blog

Climate groups call on Shell’s bankers to stop Jackdaw gas field

UK government’s regulatory approval opens the door for Shell to move ahead with the Jackdaw field
2022-06-03 | BankTrack
BankTrack news BankTrack blog Partner news Partner blog

Decision Jackdaw Field Development

2022-06-01 | UK Government
BankTrack news BankTrack blog Partner news Partner blog

UK government grants Shell new permit to extract gas from Jackdaw field – Greenpeace reaction

2022-06-01 | Greenpeace UK
BankTrack news BankTrack blog Partner news Partner blog

UK has approved several fossil fuel projects since Cop26, analysis finds

2022-05-19 | Reuters
Resources
Documents
Links
2022-06-16 00:00:00

Government approval of the Jackdaw oil field

Publication of decision of the Secretary of State and the Oil and Gas Authority: Jackdaw Field Development
Other document
2022-06-16 00:00:00 | UK Secretary of State and Oil and Gas Authority
2022-02-28 00:00:00

Jackdaw Field Development - Environmental statement

Company document
2022-02-28 00:00:00 | Shell
2021-05-06 00:00:00

Jackdaw Field Development - Environmental statement

Company document
2021-05-06 00:00:00 | Genesis Oil and Gas Consultants
2022-06-03 00:00:00

Letter from BankTrack, 350.org, Bank on our Future and Uplift to 25 banks on Shell's proposed Jackdaw gas field

Correspondence
2022-06-03 00:00:00 | BankTrack, 350.org, Bank on our Future and Uplift

Stop Jackdaw campaign website

350 petition: Stop the Jackdaw gas field!

Updates

2022

2022-07-25 00:00:00 | Shell makes FID on Jackdaw

Shell has reached a Final Investment Decision on its Jackdaw gas facility in the North Sea. The project could yield an estimated 6% of the UK's total gas output and is expected to begin production in approximately 2025.

2022-06-01 00:00:00 | UK Government approves development of Jackdaw gas field

Following its April 2022 announcement that it was intent on new oil and gas drilling, the UK government has given the green light to Shell’s updated Jackdaw proposal. This is in spite of analysis showing that Jackdaw’s high emissions will not be sufficiently mitigated, not to mention the successful 2021 campaign against the Cambo North Sea oil field, a project that Shell was involved in. Several major UK fossil fuel projects have been approved since COP26 concluded in late 2021.

2021

2021-10-07 00:00:00 | OPRED rejects Jackdaw development plans

The UK's Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) has rejected Shell's Jackdaw development plans and the associated environmental statement. OPRED has cited the project’s “significant effect” on the climate, were it to go ahead.

2021-05-26 00:00:00 | Dutch court orders Shell to reduce CO2 emissions

A landmark court case brought against Shell by Friends of the Earth and more than 17,000 co-plaintiffs has ruled against the defendant. Shell has been ordered to reduce its total CO2 emissions – including those resulting from the burning of the fossil fuels it produces – by 45% by the end of 2030, compared with 2019 levels. The Dutch court found Shell’s sustainability policy to be insufficiently “concrete”.

2005

2005-01-10 00:00:00 | Jackdaw gas field discovered

Found 30 kilometres southeast of Shell's Shearwater platform, the gas field was appraised between 2007 and 2012.

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