Insight
How much more oil and gas can the North Sea produce?
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Report summary
Russia's recent invasion of Ukraine – and associated higher prices – has called into question the UK’s reliance on energy imports. The UK government is set to unveil a new “energy supply strategy” with indigenous oil and gas still having a major role to play. In this insight, we look at the various levers the North Sea can pull and answer the following questions: Will UK demand for oil and gas continue to outstrip supply in a net zero scenario? Does greenfield, brownfield or exploration offer the biggest upside? How does the UK's carbon intensity compare with imports and high prices put emission goals under threat? Is UK shale the answer?
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