Maximising Space In North Sea Essential To Tackling Energy Security And Net Zero Targets
The title of this post, is the same as that of this article on the Eastern Daily Press.
These two paragraphs introduce the article.
Reviving wells in the Southern North Sea, powering oil and gas platforms with wind turbines, capturing and storing CO2 and hydrogen systems, starting work on world-class offshore wind farms off the coast and consent for Sizewell C nuclear power station – the East of England is ripe with opportunity for companies ready for the challenge.
The industrialised North Sea is becoming supercharged in the name of UK energy security – so much so that a spatial planning exercise is under way to optimise the seabed for energy security and make everything fit for maximum efficiency.
This is an article, that must be read fully.
These are some topics that are discussed.
- Looking at old wells to see if more oil and gas can be extracted.
- Electrification of oil and gas facilities, where economic and possible.
- Powering oil and gas facilities with offshore wind.
This is also said about the Innovation and Targeted Oil and Gas (INTOG) leasing round.
The Innovation and Targeted Oil and Gas (INTOG) leasing round is open for developers to apply for the rights to build offshore wind farms specifically to provide low-carbon electricity to power oil and gas installations in Scotland. It offers the opportunity to enable small scale (less than 100MW) innovation projects, including alternative outputs such as hydrogen.
It looks like mopping up the oil and gas in the North Sea could be promoted as a possible alternative to fracking.
I shall be interested to see how INTOG progresses.
At worst, it will mean that oil and gas installations will be powered by zero-carbon electricity, but in addition it could recover worthwhile amounts of oil and gas.
Thoughts On The Mini-Budget
This article on the BBC is entitled At A Glance: What’s In The Mini-Budget?.
If nothing else KK has whipped up a storm, with the most tax-cutting budget in decades.
But!
According to my calculations in Will We Run Out Of Power This Winter?, the planned offshore wind that will be installed between 2022 and 2027 will be at least 19 GW. About 3 GW of this offshore wind is already producing electricity.
To this must be added 3.26 GW for Hinckley Point C, 2 GW for solar and 0.9 GW for onshore wind in Scotland, which will be developed by 2027.
So we have 25.2 GW for starters.
Following on from this is the 27.1 GW from ScotWind, about 4 GW from the Celtic Sea, 3 GW from Morecambe Bay and 10 GW from Aker’s Northern Horizons. All of these are firm projects and some are already being planned in detail.
These wind and solar farms are the collateral for KK’s borrowing.
The corporate tax changes will hopefully attract world class energy and manufacturing companies to set up UK-domiciled subsidiaries to develop more offshore wind farms and manufacture the turbines and the electrical gubbins close to where they will be installed.
As more wind farms are built, many GW of electricity and tonnes of hydrogen will be exported to Europe.
Note that 1 GW for a day costs around £ 960,000 and for a year costs £350.4 million.
A big benefit of all this electricity, will be that we won’t need to frack.
Technologies like green hydrogen, that will be created by electrolysis will reduce our need for gas.
We might develop a gas field like Jackdaw, to give us gas for a backup with a few gas-fired power stations, for when the wind doesn’t blow, but gas will only have a minor roll.
The force of the maths is with KK!
The Anonymous Widower 