The North Sea Transition Deal is an agreement between industry and government to deliver an orderly energy transition. The NSTA is helping deliver on many of the aims of the deal.
The North Sea Transition Deal recognises that the oil and gas industry will have a critical role in maintaining the UK's energy security through the transition to net zero carbon by 2050. Government forecasts show that oil and gas will remain an important part of our energy mix for the foreseeable future, including under net zero.
The North Sea Transition Deal between the UK Government and oil and gas industry will support workers, businesses, and the supply chain as it transitions to a net zero future by harnessing the industry’s existing capabilities, infrastructure, and private investment potential to exploit new and emerging technologies such as hydrogen production, Carbon Capture Usage and Storage and offshore wind – as well as offshore decommissioning.
Through the Deal, the oil and gas sector and government will work together over the long-term to deliver the skills, innovation and new infrastructure required to decarbonise North Sea production. Not only will the Deal support existing companies to decarbonise in preparation for a net zero future, but it will also attract new industrial sectors to base themselves in the UK, develop new export opportunities for British businesses, and secure new high-value jobs.
Through the package of measures, the Deal is expected to support up to 40,000 jobs across the supply chain and is expected to cut pollution by up to 60 million tonnes by 2030 including 15 million tonnes through progressive decarbonisation from oil and gas production on the UK Continental Shelf - the equivalent of annual emissions from 90% of the UK’s homes.