A BLUEPRINT for how the oil and gas sector can contribute to the Scottish and UK governments’ net-zero emissions ambitions has been unveiled by industry body Oil and Gas UK (OGUK).
Roadmap to 2035: A Blueprint for net-zero, sets out five key themes that would need industry, government and regulator action to ensure the sector can continue to provide secure energy supply, support net-zero and remain a vital contributor to the economy.
It includes plans to coordinate activities to reduce emissions from the production of oil and gas, which currently accounts for 3% of the UK’s total greenhouse gas emissions, and understanding how the industry can play a key role developing and commercialising low carbon technologies including carbon capture usage and storage and hydrogen.
The roadmap is the centrepiece of a flagship report published today OGUK – its Economic Report 2019 – which reinforces the importance of the sector to the UK’s economy and to meeting consumers’ energy needs. The report shows that 75% of the UK’s current energy needs are met from oil and gas, with just over half (59%) of oil and gas demand met by domestic production.
Deirdre Michie, OGUK’s chief executive, said it was a credible plan for the future: “While we don’t have all the answers to the big challenges we face, we have started work on what we know can be done. We are ready to work with others in developing some of the new solutions the UK needs, and the Net Zero Solutions Centre is a great example of this.
“This sector has seen a remarkable turnaround from one of the harshest declines in memory, however, significant parts of the supply chain remains in a fragile condition.
“Our Economic Report 2019 shows a greater proportion of UK demand being met from domestic production, exploration and drilling activity on the increase and a continued pipeline of new projects emerging.
“We need to build on this investment to encourage new fields to be developed to replace those coming to the end of their life. This will ensure as much as possible of UK demand is met from our own resources.”
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