Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what steps they are taking to ensure their policy on oil and gas is compatible with their commitment towards net zero emissions by 2050.
The UK was the first major economy in the world to legislate for net zero and as we move to a low carbon economy, oil and gas will play a smaller role in meeting the demand for energy over time.
The oil and gas sector will play a crucial role in supporting the UK’s energy transition. We are working closely with the sector to agree a transformational North Sea Transition Deal, which we have committed to deliver within this Parliament. The focus of this deal will be on ensuring the sector can support the energy transition and anchoring the supply chain across the UK with a focus on new high-quality jobs and opportunities.
We are also conducting a review of policy on the future of the offshore oil and gas licensing regime, to ensure the government has the information needed to plan for future oil and gas production, in a way that is aligned with the government’s climate change objectives. Initial findings will be announced alongside the upcoming Energy White Paper.