The UK Oil and Gas Authority presents strategy to support net-zero target

The Oil and Gas Authority (OGA) of the United Kingdom plans to modify its main goal of maximising economic recovery (MER) and to include a requirement for industry to help the UK government achieve the target of net-zero greenhouse gas (GHG) emissions by 2050. Low carbon obligations on operators would comprise cutting flaring and GHG emissions as much as possible, fully assessing low carbon development options like platform electrification, and requiring negotiations in “good faith” on carbon capture and storage (CCS). Failure to comply with the new obligations would be subject to sanctions, including licenses or operatorship being withdrawn. A 12-week consultation on OGA’s proposal opened on 6 May and runs until 29 July 2020.

In June 2019, the United Kingdom adopted a law obliging to bring all GHG emissions to net-zero by 2050. This means that the UK will continue to cut its GHG emissions and that residual emissions will have to be balanced by schemes to offset an equivalent amount of GHG, such as planting trees or using technology like CCS. According to provisional figures from the British Department for Business, Energy and Industrial Strategy (BEIS), total GHG emissions in the United Kingdom declined by 3.6% in 2019 to 435 MtCO₂eq., i.e. 45% below their 1990 level. Net emissions of CO₂, which accounted for 81% of total UK GHG emissions, decreased by 3.9% in 2019 to 351.5 MtCO₂ (41% below their 1990 level).