The winds of change blowing in the energy industry have made the Oil and Gas Authority (OGA) change its name.
Last year, the OGA revised its strategy to include net zero practices within its agenda – a few months later the government and the industry signed the North Sea Transition Deal which set out an ambitious programme for decarbonisation.
Last week, the Prime Minister discussed with executives from the oil and gas industry issues related to energy security in light of Russia’s invasion of Ukraine.
The meeting followed reports claiming that a new energy taskforce will be launched soon to expand the UK’s oil, gas and nuclear supplies.
Energy and Climate Change Minister Greg Hands said: “This new name reflects the importance of our landmark deal agreed by this government, which is protecting our energy security, supporting high-value jobs and safeguarding the expertise necessary to achieve a lower carbon future.”
Dr Andy Samuel, North Sea Transition Authority Chief Executive, said: “The UK is moving to a net zero, low carbon future and the Russian government’s invasion of Ukraine reinforces the need for pace. Meanwhile oil and gas remain vital for energy security as we transition.”