A report from industry group Oil and Gas UK (OGUK) has called for urgent action to progress low carbon technologies critical to the UK and Scottish Government’s net zero ambitions.
A report from industry group Oil and Gas UK (OGUK) has called for urgent action to progress low carbon technologies critical to the UK and Scottish Government’s net zero ambitions.
Energy Transition Outlook Report calls on the British government and industry to work closer together to progress projects across the UK to capture, transport and store carbon dioxide from heavy emitting industrial processes including power plants. It also calls for joint action to increase the potential for low carbon hydrogen to heat homes and power cars.
The report says that the UK’s oil and gas industry is leading the development of carbon capture usage and storage, with five projects across the country currently being explored. It also finds that UK energy sector investment will need to double in order to achieve a decarbonised economy.
OGUK chief executive Deirdre Michie said: ‘With the launch of Roadmap 2035: A Blueprint for Net Zero, we were one of the first industrial sectors to set out credible plans to support the UK and Scottish Government net zero emissions. Yet the oil and gas sector will have to earn its position in this new energy world, cutting its own emissions and working with governments and regulators to progress the five CCUS projects which now need to move forward into the next phase and developing hydrogen.
‘As our report shows, there is lots of work to be done in a huge market which is only getting bigger as global demand for energy continues to grow. The Climate Change Committee report published at the beginning of this year noted CCUS was critical to our net zero ambitions. Our challenge, working with others including the OGTC’s Net Zero Solutions Centre, is to realise CCUS and other low carbon technologies as an opportunity for British businesses.’
