North Sea transition set to boost growth and jobs

Jobs in hydrogen, wind and CCS can offset decline in oil and gas sector

Growth in emerging offshore low-carbon industries—across wind, carbon capture and storage (CCS) and hydrogen—has the potential to offset the economic decline of the UK oil and gas industry, according to panellists speaking at a Policy Exchange event yesterday. Analysis by the Conservative Party-associated thinktank found that the low-carbon transition could support a net increase of 40,000 direct jobs—taking into account job losses in the oil and gas sector—and generate economic benefits of £20bn/yr ($27.8bn/yr). “We have already seen workers transition from oil and gas to wind” Houchen, Tees Valley Mayor The transition is already underway thanks to strong commitments to build

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