UK Faces Steep Drop in North Sea Oil and Gas, Leaving Britain Reliant on Imported Fuel Through 2050
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North Sea oil and gas production is projected to decline sharply, with oil output falling 80% and gas output falling 94% by 2050.
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This will leave Britain heavily reliant on imported oil and gas as domestic demand is expected to remain high.
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The UK already imports significant amounts of oil and gas, mainly from Norway, the US, and Qatar.
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Energy companies are signing long-term import deals with Qatar and the US out to 2050 to fill the expected supply gap.
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The UK's remaining North Sea reserves may be uneconomical to extract as production declines, infrastructure costs rise, and oil companies face backlash over new investments.