Edward Miliband, a Labour Party figure who is often mentioned tipped for the chancellor’s role, has signaled he would approve the Jackdaw gas project in the nearby basin off Aberdeen.
The sign‑off the approval is regarded as a stage to lock in the Treasury posting.
Miliband told the Telegraph that London’s key markets still see him as the least appealing candidate for the chancellorship.
The Jackdaw field, presently operated by Spirit Energy, is situated close to Aberdeen and is the subject of ongoing development plans that are slated for approval.
Climate watchers say the project’s output would leave little or no mark on global emissions.
Spirit Energy asserts the development will not materially influence climate change.