New oil and gas developments ‘incompatible’ with UK climate targets

New oil and gas development in the North Sea is “incompatible” with its climate targets, according to a new report.

Exploiting all the reserves on the UK Continental Shelf could lead to thousands of millions of tonnes of carbon dioxide equivalent being pumped into the atmosphere fuelling global heating, the report ‘Hooked on Hydrocarbons’ by not-for-profit Global Energy Monitor said.

The amount of emissions produced would be significantly more than the UK’s legally-binding budget to limit emissions between the years 2023-2037, according to the report, jeopardising the road to net zero.

But even if not all the oil and gas was extracted and burnt new developments are at odds with climate goals, it argues.

The group, which supports the movement toward clean energy, analysed the potential production at 20 of the largest undeveloped fields in the North Sea. It found that if those reserves were extracted in the next three years it could produce nearly 900 million tonnes, more than most countries in the world produce annually.

It concluded that development of all or any of these fields would be incompatible with the UK’s and global climate goals.

Last month, the government confirmed a new round of licensing for North Sea oil and gas fields and pledged to extract “every ounce of oil and gas from the North Sea.” It also lifted a ban on fracking despite a manifesto commitment not to unless the science shows categorically that it can be done safely.

It says it’s doing so to boost security of supply on a turbulent geopolitical backdrop including Russia’s invasion of Ukraine which has seen

But environmentalists have criticised the government’s policies in its first few weeks in power, saying they fear ministers are not engaging with the climate crisis with enough urgency, should instead focus on cutting demand by rolling out energy efficiency measures across the country and warning that the government has launched an attack on nature.

Energy experts also warn that producing more gas doesmtically will not bring down the soaring cost of gas as companies sell their findings on the international market, and the UK doesn’t have enough gas to materially impact the international price.

The International Energy Agency said last year that no investment in new oil and gas fields are needed to meet demand and limit global heating to 1.5C. And the UN Chief Antonio Guterres said earlier this year that the “truly dangerous radicals” were coutries that are increasing the production of fossil fuels.

In her speech to the Conservative Party Conference on Wednesday Liz Truss only mentioned the climate crisis once, saying she would protect the environment and deliver on net zero by opening more gas fields, delivering more renewables and nuclear energy. The government says gas has a role in the transition to net zero and that it is committed to reaching the legally-binding goal by 2050.

A UK government spokesperson described the research as “unfounded speculation” and said the government remained committed to net zero greenhouse gas emissions by 2050, recognising that producing gas in the UK has a lower carbon footprint than importing from abroad.

“With Russia weaponising energy across Europe, we must make sure we do so in a way that protects energy security, by boosting homegrown energy supply and reducing our dependence on foreign imports,” the spokesrson said.

“The climate compatibility checkpoint aims to ensure that before a new oil and gas licensing round is offered, the compatibility of future licensing with the UK’s climate objectives is evaluated.”