UK created oil & gas will help energy security for decades: Oil and gas produced in the UK will go on to support the country’s energy security in decades to come.
That’s according to the suggestion from Oil and Gas UK (OGUK), that claims the fossil fuels will go on to be used as a portion of a “changing and cleaner energy mix”.
According to this current report, the trade group calls on the government to help “unlock the full contribution the industry can make to achieving net-zero and the wider economic benefits” and enable the industry to “come of age and continue to make a positive contribution in this new energy landscape”.
It pushes for policymakers to guarantee work begins immediately to protect jobs & businesses throughout the sector, which it claims are “needed to bring our climate ambitions to life” and to permit the UK to create a homegrown transition in the direction of a clean energy future.
It also voices that 85% of OGUK members say they predict to step up the pace at which they are diversifying into non-oil & gas activities throughout the next 2 years due to current market conditions.
In its past, the UK Continental Shelf (UKCS) has previously yielded over 46 billion barrels of oil equivalent (boe) – the Oil and Gas Association (OGA) believe there are up to 20 billion boe waiting to be recovered, regardless of claims from climate activists and scientists that additional oil and gas exploration may jeopardise the mission to tackle climate change.
OGUK’s Chief Executive Deirdre Michie announced: “Today’s report highlights that we have a unique opportunity for the towards a lower-carbon future to be homegrown in this country and potentially exported across the world.
“2020 has been an incredibly challenging year for the oil and gas supply chain as it faced both the well-documented impact of COVID-19 and the subsequent decline in demand for energy.
“Utilising the expert technical knowledge that exists within the substantial UK oil and gas supply chain is fundamental if we are to evolve toward a lower-carbon future.”
UK created oil & gas will help energy security for decades