A year on from the signing of the North Sea Transition Deal (the Deal) between the UK government and the oil and gas industry, the government has provided progress reports on the reduction of emissions and alternative energy projects.
Agreed upon in March 2021, the Deal laid out plans for the decarbonisation of the oil and gas sector as part of a transition to fossil fuel-free clean energy and reducing the UK’s exposure to volatile global gas markets.
The first deal of its kind by a G7 country, the Deal also intends to accelerate parts of the government’s Ten Point Plan and Net Zero Strategy, including the production of low-carbon green hydrogen and the development of carbon capture projects.
Released today, the North Sea Transition Deal: One Year On report provided updates on progress made in the past years across 5 key areas of the Deal.
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