The Business Secretary Vince Cable is announcing plans to make Newcastle’s Quayside a world-leader in the oil and gas industry.

A £7m National Research Centre will be built on the North East’s former shipyards to make the area the home of world-class marine engineering for the oil and gas industry. Here’s more:

It’s being funded by the Higher Education Funding Council for England, Newcastle University and private engineering companies.

One of those companies is Shepherd Engineering – the Neptune Centre’s going to be on their land – and I’ve been down to see it: