UK North Sea regulator offers 24 more licences to tap nation’s own natural gas to offset future LNG needs
The North Sea Transition Authority (NSTA), the UK regulator seeking more oil and gas exploration and production in British territorial waters that will affect future import needs for pipeline gas, LNG and oil has offered a total of 24 licences in the second tranche of the 33rd oil and gas licensing round.
UK energy agency concerned about North Sea plans that point to future rise in LNG and pipeline gas imports
The North Sea Transition Authority (NSTA), the UK Government agency for oil and natural gas, has expressed concern about the slow pace of North Sea development plans that may mean more future demand for liquefied national gas, pipeline gas and oil imports for the UK to avert an energy crisis.
North Sea licences
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.
