Related Articles
Oil and gas will be needed during the transition to meet energy demand
Outlook 2022
Forward article link
Share PDF with colleagues

Outlook 2022: A ‘just’ or ‘just in time’ transition for the UK North Sea?

For over 200 hundred years, the world has relied on fossil fuels for affordable, reliable energy. How does it get to an economy based on greener energy without triggering an adverse reaction?

This year saw dramatic manifestations in the UK of the delicate nature of energy supply and demand. A mere suspicion of potential fuel shortages resulted in panic buying of petrol. And a slew of energy suppliers went bust due to record wholesale gas prices juxtaposed with a government-mandated energy price cap. There are varying schools of thought on how to move forward as we go into 2022. One is to stop investment in fossil fuels immediately and live with the consequences, with any disruption justified to expedite green energy development as a matter of necessity. The other is a more conservative—or perhaps pragmatic, given the underlying market structures—approach, looking at the forecas

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Letter from South America: Bolivia's shrinking gas role
21 January 2022
Declining production and cheaper LNG threaten the country’s role as gas supplier to its neighbours
US LNG eases European storage crisis
20 January 2022
The US is set to play an even larger role in the global gas market this year, with the country gearing up to overtake Australia as the world’s largest LNG exporter
Wintershall Dea quits Brazil, Argentine shale
20 January 2022
The German independent is overhauling its Latin American portfolio
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video