The Courier & Advertiser (Fife Edition)
Oil and Gas Authority chairman sets new climate change targets
NET ZERO: Four targets set for the North Sea industry
The chairman of the Oil and Gas Authority (OGA) has set out four targets for the North Sea industry to meet before a major climate conference comes to Scotland in November.
Tim Eggar addressed senior industry leaders at a meeting in Aberdeen, said there has been “too much navel gazing” in light of the climate emergency and there needs to be “action, not just talk or more analysis”.
He added the industry’s licence to operate is “under serious threat” and there is no scope for a second chance.
Ahead of the COP26 Conference in Glasgow in November, Mr Eggar said the industry needs to develop and go public on a package of four measures demonstrating its commitment to net zero.
The first two were “clear, measurable greenhouse gas targets” and a challenge to show work has started on “at least two” major carbon capture and storage projects — a technology to store emissions underground.
He also called for progress on energy integration, particularly getting started on a project to electrify platforms, while the final measure was an acceleration of work to ensure a diverse array of skills for the long-term future of the industry.
While efforts are being made on some of these measures, Mr Eggar said the industry is “collectively not doing enough” and the sector needs to work “much, much faster” to reduce its carbon footprint.
The UK Government has set out a legal target to become net zero by 2050 and Mr Eggar said it is “quite feasible” for the North Sea to become carbon negative within that time-frame.
Mr Eggar was speaking at the MER UK Steering Group, which oversees efforts around key strategic issues facing the industry.
From the OGA’s perspective, he said the regulator will be fully integrating net zero into its requirements, including taking a “much closer” look on flaring and venting when it comes to project consents.
It will also apply an “area plan” approach to encourage collaboration on projects to integrate clean energy solutions offshore such as renewable power.