The leading UK oil and gas industry body OGUK has today reinforced the significance of securing a sector deal, in light of new emission targets announced by the Prime Minister today.

The government’s plan commits to reducing the UK’s carbon emissions by at least 68% by 2030, based on 1990 levels. These ambitious new targets will see the UK commit to reducing emissions at a rate faster than any major economy.

Whilst OGUK remains committed to addressing the issue of climate change, as outlined in their Roadmap 2035, today’s announcement only underlined the scale of the challenge ahead and the critical need for securing a North Sea Transition Deal.

OGUK Chief Executive Deirdre Michie OBE said: 
“The Prime Minister’s ambitious emissions announcement today reinforces the significance of securing a transformational sector deal for our changing sector.

“The UK offshore oil and gas industry has a vital role to play in supporting the UK to achieve the targets set out today. Through continuing to reduce our own carbon emissions, and by tapping into the expertise within our supply chain to develop solutions, we can help meet the country’s climate goals through developing critical solutions including carbon capture and storage and hydrogen at scale.

“This will help to unlock the full potential of this industry, including its world-class supply chain to deliver a green recovery which delivers our climate goals, supports jobs and enables our energy communities to adapt and thrive.

“We continue to work collaboratively with the UK Government on proposals for the North Sea Transition deal, creating a clear pathway to becoming a net-zero basin, whilst protecting domestic energy supplies, jobs and communities in a low carbon economy.”

KeyFacts Energy Industry Directory: Oil & Gas UK