Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what assessment they have made of the risk of stranded assets in relation to the further development of fossil fuel extraction infrastructure.
The UK regulators, the Oil and Gas Authority and the Offshore Petroleum Regulator for Environment and Decommissioning have a role in the licensing of future offshore oil and gas developments, but whether to proceed with them is a commercial decision for the operators concerned. The risk of ‘stranded assets’ will be among the many risks operators consider when making investment decisions.