The UK should prioritize homegrown vitality manufacturing over imports to assist jobs, defend shoppers, and develop the financial system.
That’s what David Whitehouse, the chief government of trade physique Offshore Energies UK (OEUK), stated in a launch despatched to Rigzone by the OEUK crew this week, which famous that OEUK’s enterprise outlook subsequent month “will present that there are nonetheless vital oil and gasoline sources accessible within the waters off the coast of Britain”.
Within the launch, OEUK said that, with out recent funding into ongoing manufacturing, the UK will likely be reliant on imports for as a lot as 80 % of its wants by 2030 and with out corresponding worth to financial system. OEUK stated within the launch that official statistics present that UK whole vitality manufacturing hit a report low within the third quarter of 2024 and that the UK imported over 40 % of its whole vitality wants from abroad.
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In its launch, OEUK famous that its report will embrace evaluation on how the UK can higher meet formidable targets to develop manufacturing of renewable energy and fuels.
“OEUK’s annual enterprise outlook affords a complete overview of the UK offshore vitality funding panorama, with the information within the report utilized by corporations to assist resolve if they may spend money on tasks right here,” the group said within the launch.
Within the launch, Whitehouse stated, “the UK has vital oil and gasoline sources, and these needs to be produced responsibly alongside an acceleration in provides of renewable vitality to keep away from over reliance on imports”.
“The import hole between what we produce ourselves and what we have to ship and pipe from overseas is especially regarding in an more and more unstable world. We’d like homegrown vitality,” he added.
“Assembly even half of the nation’s projected demand for oil and gasoline on our journey in direction of internet zero would add over GBP 200 billion ($253.74 billion) of worth to the UK financial system, assist extremely expert jobs throughout the nation, all whereas assembly the UK local weather objectives,” he continued.
“This homegrown vitality future is extra dependable, higher for our financial system, higher for our jobs and may be produced with fewer emissions,” Whitehouse went on to notice.
In its launch, OEUK revealed that 154,000 jobs “are instantly or not directly associated to offshore vitality” within the UK. The group highlighted within the launch that 120,000 of those are instantly or not directly supported by oil and gasoline tasks, and famous that, when induced jobs are included, this will increase to over 200,000.
The UK will get three-quarters of its whole vitality from oil and gasoline, in response to OEUK’s launch, which stated home manufacturing is equal to round half these wants. OEUK said within the launch that the offshore vitality sector is able to spend GBP 450 billion ($570.29 billion) on tasks within the subsequent 15 years below the precise funding situations.
Rigzone has requested the UK Division for Power Safety and Internet Zero (DESNZ) for touch upon OEUK’s launch. On the time of writing, DESNZ has not responded to Rigzone’s request.
DESNZ notes on its web site that it’s answerable for UK vitality safety, defending billpayers, and reaching internet zero. DESNZ’s priorities embrace “main the federal government mission to attain clear energy by 2030 and speed up to internet zero”, “establishing a simply and orderly transition away from fossil fuels”, “British jobs and provide chains and a profitable Nice British Power”, and “a fairer deal for shoppers”, its web site highlights.
OEUK describes itself on its web site because the main commerce affiliation for the UK offshore vitality trade and a not for revenue membership group with a historical past stretching again 5 a long time.
In December 2022, OEUK introduced that Whitehouse had been appointed because the group’s new chief government. OEUK famous on the time that his appointment adopted “a extremely aggressive recruitment course of by OEUK’s board”. Whitehouse changed Deirdre Michie.
A bio web page on Whitehouse hosted on OEUK’s web site describes the OEUK CEO as “a longtime trade chief with 30 years of expertise”.
“He’s revered throughout the sector for his strategic and hands-on management within the North Sea and around the globe, together with the USA, Netherlands and Philippines,” the bio web page provides.
To contact the creator, e-mail andreas.exarheas@rigzone.com
