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Oil & Gas News25th May 2021

Funding for ‘green industrial revolution’ will support UK’s net zero goals

OGUK, on behalf of the UK oil and gas industry, has responded to the Government’s announcement that it will provide £166 million for green technology and 60,000 UK jobs as part of plans for a Green Industrial Revolution. 

The investment will support the delivery of key technologies, such as carbon capture and hydrogen, that the UK’s offshore oil and gas industry has pledged to accelerate the development of through the recently agreed North Sea Transition Deal.

OGUK Sustainability Director Mike Tholen said:

“The UK is quite rightly showing global leadership on climate change in this COP26 year, working at pace to transform our nation’s entire energy system so as to reach the UK’s climate goals.

“It is vital that leaders and policymakers continue to work with industry during this pivotal time to position the UK at the forefront of sustainability, whilst remaining competitive and protecting domestic jobs.

“We have a radical plan developed with government, the North Sea Transition Deal, that recognises our sector’s decades of expertise as a crucial asset, investing in the technology the UK needs to cut its carbon emissions, providing secure energy and supporting jobs and the economy.”