Extract from oral answer (Lords) on Net Zero Test - July 22
Friday, 23 July 2021 07:55
Baroness Sheehan (LD): My Lords, the Government’s remit to the Oil
and Gas Authority is MER, maximising economic recovery—also known
as “drill every last drop”. The Government’s continued support for
this policy leaves them open to applications such as the Cambo
oilfield, which one trusts they will turn down. May I ask the
Minister how the MER policy is compatible with our net-zero
targets, given that existing oilfields already in production will
take us over our agreed NDC? The...Request free trial
(LD): My Lords, the Government’s remit to the Oil and
Gas Authority is MER, maximising economic recovery—also known as
“drill every last drop”. The Government’s continued support for
this policy leaves them open to applications such as the Cambo
oilfield, which one trusts they will turn down. May I ask the
Minister how the MER policy is compatible with our net-zero
targets, given that existing oilfields already in production will
take us over our agreed NDC?
The Parliamentary Under-Secretary of State, Department for
Business, Energy and Industrial Strategy () (Con):
The independent Committee on Climate Change recognises that
there is an ongoing role for oil and gas, and we are working hard
to drive down demand and emissions. The updated Oil and Gas
Authority strategy includes a requirement for industry to “take
appropriate steps” to support the delivery of the net-zero
target—and, of course, we have put forward the ambitious
decarbonisation plan for the North Sea. With regard to the Cambo
field, Shell and Siccar Point have put
forward a development proposal seeking consent, with an intention
to commence production in 2025. This is not a new project; it was
licensed in 2001 and 2004 and is going through the normal
regulatory approval process.
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