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OGUK statement: leverage oil and gas industry skills in race to net zero

Published by , Editorial Assistant
World Pipelines,

The leading representative body for the UK offshore oil and gas industry has underlined its commitment to play a meaningful role in the country’s journey to net zero emissions. It comes after the Environmental Audit Committee’s comments urged The Bank of England to rethink its financial backing of oil and gas companies.

The sector outlined its ambitious Roadmap 2035 in 2019, in pursuit to a net zero future, highlighting our sectors commitment to the energy transition decarbonising our production whilst supporting jobs and communities and providing affordable energy to millions while unlocking critical low carbon solutions, all of which will need the backing of the financial community.

OGUK Sustainability Director, Mike Tholen said:

“The country’s oil and gas industry is committed to efforts to tackle climate change and Roadmap 2035 sets out how we will get there and help other industries get there too. Our sector is investing in the energy transition using our skills ands expertise to deliver a Net-zero future, responsible access to finance will be critical to deliver change at the required pace.

“With the essential expertise to unlock critical low carbon solutions including hydrogen and carbon capture and storage, we can have a fair transition which leverages our skills and provides a clear path for both energy communities and the millions of consumers we support.

“We agree that the time for rapid action is now and in a year where the UK will host COP26, we can lead the way in showing how oil and gas producing countries can successfully and fairly transition towards a lower carbon future in a way that brings everyone together on this journey.”

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