Integrating renewables and O&G sectors ‘worth trillions’ to UK

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New technologies to help integrate the renewables and oil and gas industries could generate more than £2.5 trillion for the UK economy, according to a new report.
‘Closing the Gap: Technology for a Net Zero North Sea’, published by the Oil and Gas Technology Centre (OGTC) today, outlines a roadmap for delivering an integrated net-zero energy system of the UK Continental Shelf and highlights the potential economic opportunities it offers.
Innovations across the renewables and fossil fuels sectors could create more than 200,000 new jobs by 2050, the report said.

The oil and gas sector’s workforce, infrastructure and supply chains could accelerate growth in the renewables sector while supporting its own transition to net zero carbon emissions.
But this would require major investment to accelerate deployment of “crucial technologies” including oil and gas platform electrification, saltwater electrolysis, advanced hydrogen technologies, floating solar and automated inspection technology would cost an estimated £430bn.
OTGC chief executive Colette Cohen said this investment is essential if the UK is  to solve “big challenges” around energy storage, transmissions systems and infrastructure redeployment.
“With its decades of energy expertise, the UK has a huge opportunity to become a leading manufacturer, designer, installer and operator of net-zero energy systems,” Cohen …

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