June 28 (LNGJ) - The North Sea Transition Authority (NSTA), the UK government offshore energy body, has pledged to continue natural gas and oil production in the North Sea rather than letting the region become solely a dumping ground for carbon-dioxide under projects being pushed by anti-hydrocarbon lobbyists.
The NSTA assured the oil and gas industry at a forum that it was working to progress more than 21 projects capable of producing 1.5 billion barrels of oil and gas, while awards from the UK’s 33rd oil and gas licensing round are expected later in 2023. The UK government tried to assure the industry that it was also moving to put a price floor on the Energy Profits Levy (EPL) to boost investor confidence and encourage investment in oil and gas projects with more costly emissions reduction technologies.
