UK oil and gas could miss 2030 emissions reduction target – OGA

Regulator urges industry to ramp up efforts to electrify infrastructure and stop routine flaring to meet 50pc emissions target

The UK oil and gas industry is on course to meet 2025 and 2027 emissions targets outlined by the North Sea Transition Deal (NSTD), but will miss the 2030 target unless action is taken, according to a report by regulator the Oil and Gas Authority (OGA). Under the NSTD, the industry must reduce emissions from a 2018 baseline by 10pc by 2025, by 25pc by 2027 and by 50pc by 2030, reaching net zero by 2050. Overall upstream emissions fell by 11pc from 2018 levels in 2020. However, the OGA notes that given “2020 was a very unusual year for industry activity” due to Covid-19 and the oil price crash, “the sector must ensure recent reductions are sustained”. Sustaining the current rate of emission

Welcome to the PE Media Network

In 2021 Petroleum Economist is joined by Hydrogen Economist and Transition Economist to form the only genuinely comprehensive intelligence service covering the global energy industry

Want to read more?

Please choose from one of the following options:

Already registered?
Click here to log in Subscribe now
to get full access to PE + HE + TE editorial and data Register now
to receive our newsletters and unlock up to three articles per month for free Any questions?
Contact us

Comments

{{ comment.comment.Name }} Editor • {{ comment.timeAgo }}

Also in this section

Turbine manufacturers post major losses

26 January 2022

GE and Siemens Gamesa Renewable Energy have announced multimillion-dollar losses over 2021 and the past quarter, while Vestas posts cautious 2022 guidance

New EIB-backed energy efficiency fund to tackle ‘huge underinvestment’

26 January 2022

Solas Sustainable Energy Fund to support energy efficiency projects mainly in Germany, Spain and Ireland and is aimed at small-to-mid-size insurers and pension funds

Crediting emissions saved in plugging oil and gas wells

Opinion