That’s according to a new report from PwC and OGUK which suggests that the North Sea could become a global showcase for the energy transition due to the growing number of low carbon solutions.
“There is a necessary urgency to move to a low carbon world,” said Drew Stevenson, Energy Sector Leaders at PwC UK.
“As our report illustrates, there is huge potential for the North Sea to play a significant role in the energy transition, setting a precedent for facilitating the move to a clean energy future.”
The report, titled Turning the Tide – The Transformation of the North Sea, looks at CCUS becoming a major aspect of North Sea acidity, with wider collaboration across the energy sector.
With extensive infrastructure already in place which could be used to store carbon dioxide through depleted oil and gas fields, the North Sea can play an important role in the technology.
“The transition to a lower carbon, diverse energy mix is an exciting opportunity for our transforming industry,” said Mike Tholen, Upstream Policy Director at OGUK.
“With extensive skills, capabilities and infrastructure, we are well placed to support the development of low carbon technologies such as CCUS and hydrogen while reducing emissions from production operations.”
For all the latest news, views, and analysis of the global CO2 business, bookmark gasworld’s dedicated CO2 Zone.
Including market reports, heavyweight interviews, profiles of who’s-who in CO2, and further reading items.