Energy Charter Treaty 2.0? UK to compensate developers (BP, Equinor) if £8bn #gas CCS plant project is blocked by courts https://lnkd.in/ezaBs73p
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UK Labour PM, Starmer, commits $29B for CCS to decarbonize offshore O&G and produce blue hydrogen. The Labour honeymoon is over. Never mind that ALL CCS projects to-date have not met goals on emission reductions, costs and timelines. The fossil fuel industry actively lobbies for CCS because it offers the possibilities for continuing business-as-usual, with new government subsidies, while providing opportunities for carbon credits. If CCS processes are factored in, blue hydrogen production emits 20% more GHGs than burning natural gas, at a cost that works out to twice the cost or more than that required for producing grey hydrogen.
UK's £22bn carbon capture bonanza 'should have gone to offshore wind': Greenpeace
rechargenews.com
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Oil and gas still needed in net zero transition - Swinney John Swinney has said that North Sea oil and gas would still be needed "for a period of time" for Scotland's transition to net zero. 🔽 Find more info in comments below 🔽 #JohnSwinney #NorthSeaOil #NorthSeaGas #Scotland #NetZero #EnergyTransition #Sustainability #OilAndGAs ⤵️ Click Follow on our page to keep up to date with energy news ⤵️
Oil and gas still needed in net zero transition - Swinney
ogv.energy
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A brilliant piece of work by @RoyceKurmelovs on the scam that is carbon polluting dumping via carbon capture and storage (CCS) in our ocean. This boondoggle is being used by the industry to avoid their decommissioning responsibilities, do some cynical PR on offsets and net zero with this boondoggle and keep on with business as usual Great to be featured alongside Tim Beshara and the excellent Kevin Morrison of IEEFA who got to the nub of the situation stating... 'With gas playing a small role within Australia into the future, and the vast majority destined for export to South Korea and Japan, Kevin Morrison, an energy finance analyst with the Institute for Energy Economics and Financial Analysis, says it is telling that Australia is “going all in” on CCS. “It’s really a fig leaf so industry can continue producing more oil and gas; it really doesn’t do anything to reduce emissions,” Morrison says. “[CCS] is only addressing, really, Scope 1 as it’s collecting the CO2 contained in the gas and the oil field. That’s less than 10 percent of the emissions for the oil and gas project, because most occur when the gas is combusted.” check this piece out, it's well researched, detailed and expertly written. Kudos Kurmelovs
In Australia, a New Way to Avoid Decommissioning Oil Fields: Call Them Carbon Capture Projects
drilled.media
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Dutch Court Ruling May Redefine #EnergySector Shell faces a critical ruling in a Dutch appeals court on Tuesday, which may uphold, dismiss, or alter a 2021 mandate requiring a 45% reduction in its emissions. https://buff.ly/4eqETzW #EntraConsulting #oil #gas #energy #shale #renewableenergy #petroleo #energia #electricidad #energiasrenovables
Dutch Court Ruling May Redefine Energy Sector | OilPrice.com
oilprice.com
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🌍 A Landmark Achievement for the UK Oil & Gas Sector! 🚀 Despite facing a challenging policy and taxation landscape, the UK oil and gas industry has not only met but exceeded its government-agreed emissions reduction targets. According to Offshore Energies UK’s (OEUK) upcoming Emissions Reduction Report, our sector is well on track to hit the critical 2030 milestones. 🔍 Key Highlights: ▪ 28% reduction in upstream emissions since 2018. ▪ Methane emissions more than halved—a monumental stride toward sustainability. ▪ On course to meet the North Sea Transition Deal’s emissions reduction target four years ahead of schedule! This achievement underscores the industry's unwavering commitment to decarbonization and environmental stewardship. The expertise, innovation, and private sector investment within the UK are not just reducing our carbon footprint but are also setting a global benchmark in sustainable energy practices. 🛠️ As we look toward the future, it’s vital for the UK government to back homegrown production over more carbon-intensive imports. The right investment conditions will allow our industry to continue driving the energy transition, securing our economy, and supporting the highly skilled workforce essential for building a cleaner, greener future. 👏 Kudos to everyone involved in this tremendous effort! Let’s continue to lead the way in sustainable energy. 🌱 💬 We’d love to hear from you: What do you think are the next steps the UK oil and gas sector should take to further accelerate the energy transition? Share your thoughts and experiences in the comments below! #EnergyTransition #Sustainability #UKOilAndGas #CleanEnergy #Decarbonization #Innovation #NetZero #NorthSeaTransition bp Ithaca Energy Serica Energy plc Harbour Energy EnQuestDana Petroleum Limited
UK oil & gas industry exceeds emission reduction targets despite uncertain times for the sector
https://oeuk.org.uk
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The UK's withdrawal from the Energy Charter Treaty has significant implications for the energy sector. Our latest alert explores the reasons behind this decision and its potential impact on renewable and fossil fuel investments. Stay informed and read more about it here: https://bit.ly/49KPB2O Authored by Justin Williams, Alex Harrison and Kambiz Larizadeh #EnergyTransition #InternationalArbitration #InternationalDisputes
UK to Withdraw from Energy Charter Treaty
akingump.com
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Speaking to Energy Voice, our External Relations Director, Jenny Stanning discussed the incredible industrial success story that is the UK’s offshore energy sector. Jenny talks about why the energy transition should be a really good news story – not just for Aberdeen but across the UK 👇 🔊”Political interest in the sector is a good thing but that action is what is needed. It’s not good enough to come and visit Aberdeen and then never talk about the industry again… the policymakers and politicians should show an interest in the industry because energy underpins everything, but also the opportunity of transitioning the energy sector here in the UK is massive.” Read the piece in full ➡️ https://ow.ly/kyJq50RzgTX
Inside the job of maintaining the offshore energy sector's social licence to operate
https://www.energyvoice.com
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As a 1st tier contractor supporting the offshore wind initiative, Haugland will continue to monitor the political atmosphere and follow the market trends. Interesting analysis below. At this stage we’ll simply have to wait and see what the President Elect does. Curious to see what other new sources of energy may come with a change in administration. SMRs, Hydrogen, back to fossil fuels?
How the Donald Trump election victory will impact offshore wind - Spinergie
spinergie.com
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UK offers over 30 oil and gas licenses in offshore wind farm sites The UK has offered 31 new oil and gas licences to operators at sites which are meant for offshore wind licensing. The North Sea Transition Authority (NSTA) has offered 31 licences in the third tranche of the NSTA’s 33rd licensing round. A total of 82 offers to 50 companies have now been made in the round which attracted 115 bids from 76 companies across 257 blocks and part-blocks. The licences offered in the round could add an estimated 600 mmboe up to 2060, or 545 mmboe by 2050. Most of this would be regular news for a standard licensing round. But these licenses, apart from being licenses for fossil fuels, provoked ire from environmentalists as those areas were meant for more offshore wind farms. Supporters of the scheme believe that if any of the sites that should host wind farms prove suitable for oil and gas production, such platforms will be able to use power from the wind turbines to lower emissions. An agreement will have to be in place between the oil and gas firms and the offshore wind developers for drilling locations. For those in favour of more oil and gas projects, this is seen as good news. Namely, there are currently over 280 active oil and gas fields in the North Sea and by 2030 around 180 of those will have ceased production due to natural decline. Rishi Sunak’s former top net zero proponent, Rt Hon Chris Skidmore, who recently quit in protest of the government’s climate policies, was very vocal about this and told The Guardian that this was a deeply irresponsible and divisive move that went against all advice from the International Energy Agency (IEA) and would further set back the UK’s climate reputation. “Instead of wind powering new oil, the investment should instead be in more wind and renewables. More fossil fuels will only create stranded assets and stranded jobs at a time when demand for oil and gas is falling,” he added. Greenpeace of course shared the sentiment. Doug Parr, policy director at Greenpeace UK, compared this decision to using a nicotine patch to roll a cigarette. “It’s hard to think of a worse use of clean electricity from windfarms than powering the dirty industry that’s driving the climate crisis,” Parr stated. #oil #gas #netzero #decarbonisation #offshore #socsea24 #maritimeconnection https://lnkd.in/eH7X526h
UK offers over 30 oil and gas licenses in offshore wind farm sites
ogv.energy
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It was good to speak to Royce Kurmelovs about the Western Australian state government's taxpayer handout to large companies for a questionable 'climate solution', carbon capture and storage (CCS). Great public relations for the oil and gas industry, but will do little to lead to a net reduction in emissions. https://lnkd.in/g6QCyCzf *A few key points never mentioned by CCS proponents. The International Energy Agency (IEA) said that energy related CO2 emissions rose by 1.3% in 2023 to 37.7 billion tonnes. *The lobby group for CCS, the Global CCS Institute, showed in its latest annual report that 11.385 million tonnes of CO2 capacity is dedicated to CCS storage facilities, but what the report does not show is the amount of CO2 that was captured. For example the reports shows Gorgon CCS has a capacity of 4mtpa of CO2, but it only captured 1.7mt in the last reported period. So the actual amount of CO2 captured last year was probably under 10mt of CO2 - given that the CCS poster child, the Sleipner CCS project in Norway, was over-reporting the CO2 it claimed it was burying. *Instead taxpayer money for lowering emissions should go to more economically sound initiatives such as electrifying WA homes. #CCS #gas #LNG
Woodside handed government funds for carbon capture projects, but activists say we should use less gas
https://reneweconomy.com.au
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