Friday 12 October 2018

The final Aberdeen Business Breakfast of 2018 discusses the ongoing role of oil and gas in the energy transition and takes a closer look at how businesses in the North Sea are embracing the opportunities this changing energy landscape brings.

Oil & Gas UK will present the first outcomes from its own Energy Transition Project and industry leaders will highlight the UK oil and gas industry’s rich history of innovation and how this is already playing into building the lower carbon energy future. That future will likely still require large scale energy distribution networks, undersea engineering and the mass movement and storage of gases and liquids. The likely role for Carbon Capture and Storage and the development of hydrogen on an industrial scale are also likely to feature as these look set to be part of any future net zero emission world.

With oil and gas estimated to still be providing 60 percent of the UK’s primary energy needs by 2040 the breakfast will also highlight the need for pragmatism in our energy policy and regulation and stability in our fiscal environment to ensure that we balance the need for energy security and affordability with the march to the future. As part of this, efforts to ensure as much as possible of UK oil and gas demand is met from indigenous sources remains key to ensuring the UK remains a key player in the global energy market of the future.

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