UK Offshore Calls for CCS Support
Offshore industry group Oil & Gas UK says in a report published December 3 that the government must take urgent action to progress the low-carbon technologies critical to the UK and Scottish governments' net zero ambitions.
There are five key projects that aim to capture, transport and use or store carbon dioxide from heavy emitting industrial processes including power plants. They need regulatory clarity and financing before investors will take the final investment decision and OGUK hopes that the legislative framework will be spelt out in a White Paper early next year.
It also calls for joint action to increase the potential for low carbon hydrogen to be used as a fuel to heat homes and power cars.
Its Energy Transition Outlook Report warns that the sector will need to earn its position in the changing energy world, with rapid action required to ensure it transforms over the next 30 years while continuing to meet as much of the UK’s oil and gas needs from domestic resources. The report claims energy sector investment will need to double in order to achieve a decarbonised economy.
OGUK CEO Deirdre Michie said that 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" and the challenge "is to realise CCUS and other low carbon technologies as an opportunity for UK businesses.”