Offshore Industry

(asked on 10th January 2024) - View Source

Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, what assessment she has made of potential future trends in the level of demand for oil and gas.


Answered by
Graham Stuart Portrait
Graham Stuart
This question was answered on 16th January 2024

As set out in our Net Zero Strategy demand pathway, in 2035, demand for oil and gas may be just over half of 2022 levels.

Whilst our domestic production is expected to decline by 7% year-on-year, new licensing will limit our import dependency to around 60% instead of 70% by 2035.

By 2050, oil use will concentrate in aviation. Gas will be used with CCUS abatement, generating cleaner electricity and hydrogen.

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