Insight
How platform electrification is decarbonising the North Sea
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Report summary
Norway has been electrifying platforms for nearly 30 years, helping realise significant emissions savings. While electrification in the UK has yet to take off, decarbonisation commitments in the North Sea Transition Deal have thrown it into the spotlight - can the UK replicate Norway's success? Key takeaways from our analysis include: Remaining field life determines viability: UK maturity stresses the time-critical nature of electrification Hub-led solutions cut costs by 50%: project size and proximity to shore are other key factors Tax relief is a major driver behind Norway's success: its additional carbon taxes also play a big role UK projects will struggle to cover cost of capital: higher carbon prices and hub-led solutions are required to spark projects into life In addition to this report, we have launched our brand new North Sea electrification project tracker. This provides timing, cost and emissions savings data for over 20 projects in the region.
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