​UK oil and gas industry unveils plan for net-zero

Image: BP

The offshore oil and gas industry in the United Kingdom has released a report outlining its plans to help the UK and Scottish government meet net-zero ambitions.

It’s part of an ambitious blueprint showing what the sector could look like in future, according to Oil & Gas UK, the sector’s upstream organization.

The roadmap, built on engagement with over 2,500 industry stakeholders, is one of the first major industrial responses to government plans to reduce or offset carbon emissions to net zero by 2050 in the UK and 2045 in Scotland.

Oil and gas remains key to the UK’s economy, the report says. 75 percent of the UK’s current energy needs are met from oil and gas, with just over half (59 percent) of oil and gas demand met by domestic production. Forecasts expect the UK will still consume around 65 million tonnes of oil equivalent per year (roughly 45 percent of current demand) in 2050, making carbon capture and development of hydrogen essential.

Roadmap to 2035: A Blueprint for net-zero sets out five key themes requiring industry, government and regulator action to ensure the sector can continue to provide secure energy supply while supporting net-zero.

It includes coordinating activities to reduce emissions from the production of oil and gas, which currently accounts for three percent of UK total greenhouse gas emissions, and understanding how the UK oil and gas industry can play a key role in developing and commercializing low carbon technologies including carbon capture usage and storage and hydrogen.

“Roadmap 2035 shows an industry in action with 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,” Oil & Gas UK chief executive Deirdre Michie said in a statement.

“The facts outlined in our report evidence that our industry remains a vital economic asset and is uniquely positioned to help the UK meet its net-zero ambitions and energy needs in the years to come.”

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