Final investment decision for North Sea gasfield development N05-A
Tuesday 27 September 2022
ONE-Dyas, together with partners EBN and Hansa Hydrocarbons, have made a final investment decision for the development of the N05-A gas field in the North Sea. The decision involves an investment of more than EUR 500 million. This makes it the largest investment in a natural gas development in the Netherlands in the past 15 years.
The Ministry of Economic Affairs and Climate (EZK) has awarded the final permits for the development of the N05-A gas field in the North Sea on 3 June 2022. This was preceded by a careful permitting process during which ONE-Dyas had regular and proactive discussions with multiple stakeholders. The result of these discussions, as well as the submitted views, has been incorporated into the project and environmental impact report, which was part of the permitting application for N05-A. The same applies to the views of the Government's statutory advisory bodies. The Environmental Impact Assessment Committee concluded on 18 February 2022 that the environmental impacts have been sufficiently outlined, and that the utility and necessity of the N05-A project have been satisfied.
Chris de Ruyter van Steveninck, CEO of ONE-Dyas: "This is an important step for the energy supply of the Netherlands and Germany, providing safe and responsible domestic natural gas. With this investment decision, we have demonstrated that we are serious about the energy transition. As an operator, and together with our partners, we want to actively contribute to the security of supply of natural gas to North-West Europe and we are taking a major step in reducing CO2 emissions. We are bringing emissions close to zero as the nearby offshore Riffgat wind park will supply the N05-A platform with wind energy. We have agreed to produce natural gas from the GEMS area only as long as there is domestic demand for natural gas in the Netherlands and Germany."
The energy transition requires cooperation between all stakeholders. For this project, ONE-Dyas is exploring opportunities for nature-inclusive construction, furthersystem integration between wind and gas and opportunities that can contribute to research and nature development in the area. ONEDyas has always valued open and transparent dialogue with stakeholders and is keen to continue to engage with them.
In awarding the final permits, the Dutch Government expresses its confidence in the need and necessity of this North Sea natural gas. Germany also stated support for this project. The support of both countries has contributed to the project now entering a phase of concrete preparations and investments, which ensures that this domestic natural gas will be available to Dutch and German households ahead the winter of 2024.