North Sea Oil and Gas Trade Bodies Sign Pact to Cut Emissions

Wednesday, November 10, 2021

Oil and gas industry trade bodies OGUK,  Norwegian Oil and Gas Association, BVEG, NOGEPA, and Oil Gas Denmark representing five countries across Europe "pioneering lower-carbon oil and gas in the North Sea" have signed a formal agreement to work together to advance the transition to net-zero emissions.

"Many oil and gas companies are already investing in renewable energies, as well as driving forward hydrogen and carbon capture and storage," UK-based OGUK said.

In a Memorandum of Understanding signed by the UK, Denmark, Norway, the Netherlands, and Germany Tuesday, the representative bodies committed to play their part in tackling climate change. It includes a commitment to host an annual summit to share progress to cut industry emissions and develop technologies that could be critical in helping other sectors reduce emissions.

OGUK Chief Executive Deirdre Michie OBE, said: “The UK oil and gas industry is changing and the North Sea Transition Deal sets out in detail how our industry is working to support the delivery of the UK Government’s climate targets and use our skills to help other industries do the same. Today’s agreement recognizes that climate change doesn’t stop at the border and commits us to work together to give millions of people access to cleaner energy and deliver a managed transition towards net zero.”

Director General of the Norwegian Oil and Gas Association, Anniken Hauglie said: “Climate change is one of the biggest challenges of our times. All countries and sectors in the world, including oil and gas, must contribute to the elimination of greenhouse gas emissions, and this must happen quickly. It will be a demanding but absolutely necessary task. 

"We want to help create a new and forward-looking energy industry on the Norwegian Continental Shelf where we use the knowledge and expertise from the oil and gas industry to develop the sector further. Our members are heavily involved in helping to develop new value chains that are needed for the world to reach net-zero emissions. Changing an entire society does not happen overnight, and in order to succeed, we must go in the same direction, together.”

BVEG CEO Ludwig Moehring said: “The pledge of the G20 leaders to become carbon neutral by or around mid-century is huge in a world with an overall population of well above 9bn people and a corresponding need for energy. As much as the oil and gas industry in Germany has helped to fulfil energy needs in the past, it is committed to adjust to the requirements of carbon neutrality and develop technologies within and outside its sector that support carbon neutrality – alongside its commitment to provide the energy molecules still needed in the transition with a focus on reducing the CO2-footprint.”

Chairman Menno Snel of NOGEPA said: “The road to a CO2 neutral 2050 is one of the biggest challenges for our generation and there is no time to waste. There is no one-size-fits-all solution, we have to co-operate on both international and national levels with a set of different actors to find sustainable solutions. We are committed to working together with our partners from Denmark, Norway, Germany and the UK to share our knowledge of new techniques and developments. We can accelerate the energy transition if we work together and learn from each other. 

"On the national level, we are pleased with the intent of the Dutch government to reach a multi-party agreement on the energy transition on the North Sea. These long-term commitments will give our industry and other important stakeholders on the North Sea, the perspective it needs. We will be able to share this good practice with our international partners.”

Martin Næsby, Managing Director of Oil Gas Denmark: “The world is facing an unprecedented climate challenge. All of society, companies, and citizens, need to take immediate action. A historic transition of the world’s energy systems is taking place at increasing speed. The Danish oil and gas industry is an important partner in Denmark’s transition. The Danish sector of the North Sea has a huge potential for the climate and we are working hard to decarbonize our production and are planning to contribute with massive storing of CO2. We have a unique understanding and expertise of the Danish subsoil which can put us at the forefront of the concerted effort. We will make sure that knowledge is shared among the countries around the North Sea to the benefit of all of us.”

Categories: Energy North Sea Industry News Activity UKCS Decarbonization

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