The North Sea oil and gas sector needs investment to fund its transition. Having ESG reporting in order is a crucial part to attract financing – Joanne Edgeler, head of licensee governance and ESG at the North Sea Transition Authority (NSTA), explains why.
The UK legal system makes it “nearly impossible” to challenge new oil and gas developments on climate grounds, according to an Aberdeen University lecturer.
A study by the Net Zero Technology Centre (NZTC) has found high capex costs remain a barrier to electrifying North Sea assets, but rising carbon taxes and net zero targets may yet spur development.
It’s an exciting time for the UK energy industry. Investment in major infrastructure projects is spiralling as companies across the sector diversify in support of the country’s net zero ambitions.