The Oil and Gas Authority (OGA) has today (15 March 2021) launched its ‘Stewardship Expectation 11 – Net Zero’ setting out how the oil and gas industry should reduce its greenhouse gas (GHG) emissions and support delivery of the UK’s net zero target.(Logo quoted from OGS’s official website)
In 2016 the OGA introduced a set of Stewardship Expectations across the oil and gas lifecycle. These were designed in consultation with industry, to give operators and licensees clarity on expected behaviours and good practices. The new Expectation is the 11th in the set and focuses on the following areas:
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Creating a culture of GHG emissions reduction within the United Kingdom Continental Shelf (UKCS)
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Ensuring that GHG emissions reduction is considered throughout the entire oil and gas lifecycle
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Collaboration between all relevant parties to support and progress potential energy integration developments (such as electrification, carbon capture and storage and hydrogen)
In February 2021 the OGA’s revised Strategy came into force, now requiring industry to operate in a way consistent with net zero ambitions, lowering production emissions and making progress on the solutions that can contribute to the UK achieving net zero.
With this new Expectation in place, operators must demonstrate - at every stage of the lifecycle - a commitment to reducing greenhouse gases, and the OGA will monitor performance closely through an annual stewardship survey, performance benchmarking and tier reviews.
(IRuniverse)
