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A transformative journey: oil & gas, CCUS and hydrogen in Europe
What are the challenges and opportunities for these sectors and how can they work together?
1 minute read
Neivan Boroujerdi
Director, Corporate Research
Neivan Boroujerdi
Director, Corporate Research
Neivan leads Wood Mackenzie's global corporate NOC coverage.
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Gail Anderson
Research Director, North Sea Upstream
Gail Anderson
Research Director, North Sea Upstream
Gail focuses on the North Sea Upstream industry and its gas and power sector.
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The challenges and opportunities in Europe’s oil & gas, CCUS and hydrogen sectors
Murray Douglas
Vice President, Hydrogen & Derivatives Research
Murray Douglas
Vice President, Hydrogen & Derivatives Research
Murray is responsible for Wood Mackenzie’s global coverage across the hydrogen value chain.
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Mhairidh Evans
VP, Global Head of CCUS Research
Mhairidh Evans
VP, Global Head of CCUS Research
Mhairidh leads our global research on carbon capture, utilisation and storage (CCUS).
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The challenges and opportunities in Europe’s oil & gas, CCUS and hydrogen sectors
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Our top five takeaway messages from the CCUS conference 2023
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Opinion
The UK’s journey to net zero: an uncertain path ahead
As well as huge offshore wind potential, the North Sea offers the opportunity to leverage existing gas infrastructure to establish hydrogen and CCUS industries, making the North Sea an important test bed for new technologies.
At the same time, linking domestically produced hydrogen with long duration energy storage could create a clean slate for European countries to design their energy security, removing dependency on imports.
The UK is traditionally seen as a safe place to do business, which counts in its favour for attracting these projects that will be so key to the energy transition. However, to ensure investment into low-carbon solutions like clean hydrogen and CCUS continues, a stable and reliable fiscal regime in relation to energy will be paramount.