If UK bans new oil & gas exploration licences, what energy games are left to be played?

The saga about the Labour Party’s plans for Britain’s oil and gas industry seems to have come to a softer stance, based on the recently disclosed decision to halt new exploration licences in the UK waters, as part of a raft of measures to turn the UK into a clean energy superpower. As this will not impact the energy players’ activities on the existing licences while the tide keeps turning in favour of low-carbon and green energy, the decision is not seen as a big deal by some while others believe it would undermine the country’s energy security.