The oil and gas industry needs a decommissioning strategy to help meet the UK’s Paris Accord commitments and the net zero carbon emissions by 2050 target, as the country moves ahead in its energy transition. Decommissioning is only one strand of the oil and gas sector’s efforts to reduce their carbon footprint and, at the same time, is an essential requirement to ensure continuing investor and government support in new North Sea projects.
Most people would be surprised to learn that the earth is now greener than the 1980s.
As for the future in the many trades that Southampton deals with including deep sea containerships and cruise liners, the vessels are getting bigger as vessel operators seeks to meet increasing demand and cut unit costs. Because of this port operators such as Southampton have to continue to develop and expand port capacity infrastructure to handle such mega vessels.
The rise in offshore oil and gas production expected in 2019 and beyond is due in part to the coming onstream of new fields aided by technological advances, which have dramatically cut E&P costs.
“It is likely that we will see more co-operation between local businesses and also community groups, to not only generate energy but also use and even trade in it”
Chris Morris, project manager, Local Energy Scotland