Offshore Petroleum Licensing Bill

(asked on 10th January 2024) - View Source

Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, what assessment she has made of the compatibility of the Offshore Petroleum Licensing Bill with the UK's 2050 net zero target.


Answered by
Graham Stuart Portrait
Graham Stuart
This question was answered on 17th January 2024

The Offshore Petroleum Licensing Bill is consistent with meeting net zero by 2050. Climate Change Committee data shows that the UK will need oil and gas even when it reaches net zero. North Sea Transition Authority analysis shows that domestically produced natural gas is almost four times cleaner than importing liquified natural gas. Even with continued development, oil and gas production is expected to decline by 7% a year and to fall by nearly 90% by 2050. This is faster than the average annual global decline needed to align with UN 1.5°C pathways and the UK's carbon budgets.

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