Edward Miliband, a Labour Party figure who is often mentioned tipped for the chancellor’s role, has implied he would approve the Jackdaw gas project in the offshore area off Aberdeen.
The sign‑off this decision is regarded as a stage to secure the Treasury posting.
Miliband told the Telegraph that London’s principal markets still view him as the least favoured candidate for the chancellorship.
The Jackdaw field, currently operated by Spirit Energy, is positioned by Aberdeen and is the subject of ongoing development plans that are being pursued.
Climate watchers say the project’s output would leave little or no mark on global emissions.
Spirit Energy asserts the project will not significantly affect climate change.