Philip Evans, oil and gas transition campaigner for Greenpeace UK, said: “The type of oil that can be extracted from Cambo is not usable in the UK, so this project will do nothing to tackle high bills or shore up energy security.

“Shell’s reported flip-flopping on Cambo shows exactly why we need to get off oil and gas and move towards homegrown renewable energy.

“Shell wasn’t interested in pursuing this project when it was a bad look for them, but now they stand to gain billions in the midst of war-time price hikes – they’re interested again.

“Meanwhile our bills soar, and offshore workers are trapped in a volatile industry.

“The UK and North Sea communities deserve better. With the Spring Statement and a new energy strategy coming up, the government must throw its weight behind British renewables, a proper home insulation scheme and heat-pump roll-out, or our energy policy will be disrupted by the whims of fossil fuel giants for decades.”