A new study reveals that implementing a moratorium on new North Sea gas fields would have the same impact as building just one offshore wind farm.

The study by the Energy and Climate Intelligence Unit (ECIU) indicates that by halting new gas field developments, gas production by 2030 would decrease by 15%.

A recent survey shows that a majority of people support tax cuts directed towards the renewable energy sector, as opposed to providing tax breaks for oil and gas companies.

The study’s authors stress the need to redirect resources and skills from the declining gas sector to the expanding wind energy industry.

According to the North Sea Transition Authority, UK gas production is expected to decrease by 55% by 2030, reaching around 190 terawatt-hours per year (TWh/yr).

The majority of this output (85%) in 2030 will come from existing gas fields, while only a small portion (approximately 30TWh) would be affected by a moratorium on new licensing.

Article source: https://www.energylivenews.com/2023/06/15/north-sea-moratorium-equals-one-offshore-wind-farm/