The trade agency representing the British oil and gas industry has called for investment in new oil and gas fields as the country seeks to eliminate net emissions in the next three years.
Oil and gas The United Kingdom (OGUK) stated that the industry is prepared to invest 21 billion pounds in the next five years to explore and produce hydrocarbons in the United Kingdom.
The agency stated that this will “protect the UK’s highly skilled offshore workforce, whose knowledge of marine and energy engineering is critical to the transition to renewable and low-carbon technologies”.
Deirdre Michie, CEO of OGUK, said: “Reducing greenhouse gas emissions is not easy, but if we support companies and people who can help us achieve our goals, we will do it faster.”
OGUK said that between now and 2050, when the UK intends to reduce emissions to net zero, half of the country’s energy will need to come from oil and natural gas.
“We all know that we need to change, so the question is how quickly we can make changes. This report shows the reality that we are cutting off domestic oil and gas production faster than we can reduce the risk of demand, which makes We are increasingly dependent on other countries that often produce higher emissions,” Ms. Michie said.
She added: “Failure to invest in new oil and gas fields — to replace the declining oil and gas fields — will mean that the UK can only meet one-third of its future needs, making the country more dependent on imports.”
this government It has promised to achieve a net zero goal by the middle of this century, but its official consultants to the Climate Change Committee have recognized that even after 2050, oil and gas must play a role.
Natural gas heats approximately 85% of British homes and generates more than one-third of Britain’s electricity.
OGUK estimates that 73% of the country’s total energy still comes from oil and gas, of which 70% comes from oil and gas fields in the UK.
