Cluff Natural Resources, which is focused on the North Sea has said that the United Kingdom should boost the production of gas in its water to reduce the reliance of the country on gas supplies from overseas sources towards the country’s goals of tackling climate change.
Mark Lappin, the chairman of the company has noted that the Committee on Climate Change had recognized that oil and gas resources would become key energy sources for most of the country’s power needs, while efforts have been increasingly made to cut down on the net carbon emissions towards the zero target which has been set for 2050.
According to the committee’s report, the target of net zero emissions would not necessarily mean the end of production of hydrocarbon products. Mr. Lappin spoke about the importance of domestic production: “The key difference between the Climate Change Committee and our own view is that instead of becoming increasingly reliant on imports from overseas we should be focusing on national production and consumption of natural gas from the United Kingdom Continental Shelf. A domestic supply of natural gas is good for jobs, good for tax receipts and the balance of payments, as well as being better for the environment compared with importing gas from as far afield as the Middle East and South America.”
North Sea Oil Producers Fight Criticism from Environmental Groups
These comments were made by Mark Lappin as Brent crude prices went up by around 20 per cent following drone strikes on facilities in Saudi Arabia. This event is expected to restart the debate on the need for oil and gas production within the UK.
Key players in the North Sea based oil and gas industry have been pushing in defense of this approach to counter the increasing criticism coming out from environmental groups. The key concern according to Cluff Natural Resources is that experts are estimating that by 2050, renewables may only be able to fulfill two thirds of the energy requirements of the country at the time. The company is expected to argue for the development of domestic resources to meet this threat.