Energy Transition Outlook 2019

need to go beyond the incentives currently provided by carbon prices in order for new applications to develop and thrive . In the first section of this report we set out an outline of what needs to be provided for in the forthcoming UK government Energy Policy White Paper in terms of both the overarching strategy and outline legislation. The time for rapid action is now, to ensure that we transform our sector over the next 30 years whilst maintaining the competitive, secure, indigenous sources of energy the UK needs .

will increasingly emerge to co-exist alongside the oil and gas sector. We not only embrace the change but welcome the opportunities it presents. As well as working to reduce their own emissions, many of our operator and supply chain members already have direct involvement in developing and supporting the rapid growth in low-carbon solutions, from carbon capture (CCUS) to offshore wind, electric vehicles to biofuels and hydrogen. These new technologies need to be scaled up rapidly, particularly CCUS and hydrogen, as the CCC noted these technologies are essential if we are to achieve net-zero. We have a central role to play in these new sectors and are committed to helping tackle the impact of energy use in society by developing these into safe, reliable and affordable solutions . Delivering net-zero is a massive investment challenge for the UK. The test for governments, industry and regulators is to rapidly develop long-term supportive policies. These measures

Deirdre Michie OBE CEO, OGUK

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