As the sector transitions to net zero by 2050, UK North Sea oil and gas operators must focus on initiatives to cut emissions from their production activities, says North Sea Transition Authority (NSTA).
Yesterday, the authority held its annual performance review of the 20 oil and gas operators in the North Sea.
Oil and gas meet around three-quarters of the UK’s energy needs and, even as demand declines as renewables increase, the UK is expected to remain a net importer until 2050.
While oil and gas are expected to remain part of the energy mix for decades as the sector transitions, NSTA works at ensuring targets to cut emissions are kept while meeting the UK’s energy security.
Stuart Payne, NSTA chief executive, said: “While the argument for continued domestic production is strong, it only stands up if operations continue to get cleaner.”
NSTA encourages industry investment in initiatives that help reduce emissions and, at the meeting, the regulator approved eight oil and gas projects....