North-Sea Transition Authority

North-Sea Transition Authority

News: The U.K. plans to conduct more fossil fuel drilling in the North Sea, sparking concerns about its alignment with climate goals.

What is NSTA?
• The North Sea Transition Authority (NSTA) is a UK government company that is responsible for maximising the economic recovery of oil and gas from the North Sea, while also supporting the transition to net zero emissions by 2050.
• It was formerly known as the Oil and Gas Authority (OGA) until March 2022, when it changed its name and mandate to reflect its new role in the energy transition.
• The NSTA has the power to license and regulate activity in relation to oil and gas exploration, production, decommissioning, carbon capture and storage, and offshore gas storage in the UK continental shelf.
• It also has the duty to ensure that the maximum value of economically recoverable petroleum is recovered from the North Sea, and that greenhouse gas emissions from the sector are reduced as far as reasonable.

Why is North sea important?
• Almost the entire seabed of the North Sea is a continental shelf (depth of only about 200 meters). The geological formations beneath the North Sea, such as porous rocks and structural traps, provide suitable environments for the collection of oil and gas reserves.