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    Economics

    Climate concerns mount as UK government pursues North Sea oil and gas projects

    Climate concerns mount as UK government pursues North Sea oil and gas projects

    The UK government announced on Monday its plans to grant numerous new licenses for gas and oil exploration in the North Sea as part of an effort to enhance energy security, DW reports.

    A section of the BP Eastern Trough Area Project (ETAP) oil platform is seen in the North Sea, about 100 miles east of Aberdeen in Scotland, February 24, 2014.
    Source: Reuters

    However, this move appears to contradict the government's commitment to achieve net zero carbon emissions by 2050, a goal that requires avoiding new fossil fuel projects, according to climate scientists.

    While the Conservative-led government aims to strengthen energy security and deliver affordable, clean energy to British households and businesses, the opposition Labour Party has pledged to ban new oil and gas ventures in the North Sea.

    The Prime Minister's office, led by Rishi Sunak, defended the decision, stating that investments in the North Sea would unlock new projects, protect jobs, reduce emissions, and boost the UK's energy independence. They emphasized that the new licenses aim to address the decline in the UK's oil and gas production, ensuring energy security without increasing production levels above the current rate to meet net-zero targets by 2050.

    Additionally, the government announced plans to establish two new carbon capture usage and storage clusters in North East Scotland and the Humber regions. The first of these new licenses is expected to be awarded in the autumn, as per the oil and gas industry regulator's projections.

    The decision to expand gas and oil exploration comes amid concerns over energy supplies in Europe, especially following Russia's invasion of Ukraine, which has led to reduced or halted deliveries of Russian oil and gas to several countries. British Prime Minister Rishi Sunak is scheduled to visit a critical energy infrastructure site in Aberdeenshire, Scotland, on Monday.

     

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    01.08.2023, 02:57   Comments (0)   1039
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