Energy Transition Outlook 2021

ENERGY TRANSITION OUTLOOK 2021

Letter of support for World Bank’s Zero Routine Flaring by 2030 initiative

emissions whilst helping companies and communities to embrace the energy transition, creating jobs, and driving investment in clean energy. Within the deal, the industry has committed to support the World Bank’s Zero Routine Flaring by 2030 initiative, as well as accelerate compliance, including phasing out routine flaring and venting with a reduction of 30% over and above natural decline. OGUK and industry regulators are monitoring performance and we have already seen meaningful improvements in 2020. The industry is also taking wider action to cut its methane emissions. As a result, OGUK launched a Methane Action Plan in June this year which includes commitments to meet the OGCI 2025 methane intensity targets and will see methane emissions by the industry halved by 2030. The plan again reiterates our commitment to the World Bank’s Zero Routine Flaring by 2030 initiative. Through this letter, wewould like to acknowledge the contribution that the World Bank’s Zero Routine Flaring by 2030 initiative will make, and we wish to put our support for the initiative on record. We will keep you and your team updated on progress. Yours sincerely

I am writing on behalf of OGUK and the UK’s offshore oil and gas industry in support for the World Bank’s Zero Routine Flaring by 2030 initiative. The UK Oil and Gas Industry Association Limited, otherwise known as OGUK, is a not-for-profit organisation, first incorporated in 1973 and is the leading representative body for the UK’s offshore oil and gas industry. Our membership includes over 400 companies and organisations with an interest in the UK’s upstream oil and gas industry, and more widely across the energy sector. Its membership includes the Exploration and Production companies, ranging from super majors and international oil companies through to smaller local companies, operating assets on the UK Continental Shelf as well as supply chain companies supporting the sector and its energy transition in the UK. Our industry in the UK is wholly committed to delivering Net Zero in the UK by 2050. We have made a ground-breaking commitment with the UK government to ambitiously to tackle the challenges of reaching net zero at pace through the North Sea Transition Deal , which was signed by ministers and representatives of the industry in March this year. The Deal includes specific demanding targets to reduce greenhouse gas

Deirdre Michie OBE Chief Executive, OGUK.

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