Energy Transition Outlook 2019

Premier Oil has been trialling

OPT’s PB3 PowerBuoy at the Huntington field.

Whilst moored to the seabed, the Buoy uses wave power and an

emissions-free

energy storage system to power sensors and instruments and is

net-zero at 1–2 % of GDP

The CCC estimates the cost of achieving

every year

£20–25bn

Total annual energy sector capital investment will need to increase from around

to around

£40–50bn pa

3.5%

Scope 1 emissions

of UK total emissions

from the offshore Oil and Gas industry account for around

$18 trillion

Of the $120 trillion investment

required in global energy to 2050, will need to double in order to achieve a decarbonised economy is forecast to be needed in the oil and gas industry

UK energy sector investment

Typically, on average, UK household expenditure on energy products, including gas, electricity and fuels, has varied between

5–7 % of disposable income

10% of disposable

Around 1 in 10 UK households

income is devoted to energy bills

are in fuel poverty, which is defined as a situation where more than

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