Suits Want UK to Cancel Rosebank Field Approval - Rigzone News
Suits Want UK to Cancel Rosebank Field Approval | Rigzone
Suits Want UK to Cancel Rosebank Field Approval
Greenpeace UK and climate campaigner Uplift filed separate legal challenges in Scotland seeking to rescind government approval for the Rosebank oil development in the North Sea.
Equinor ASA and partner Ithaca Energy Plc said they would make a final investment decision to develop the field after receiving the go-ahead in September. That approval came amid Conservative government efforts to bolster drilling of oil and gas in the declining basin.
Greenpeace and Uplift asked the Court of Session in Edinburgh for a judicial review, saying the consent is incompatible with the UK’s own net zero plans. The development, which lies in deep waters off the Shetland Islands, isn’t due to start pumping oil and gas until at least 2026.
Intended daily production of 70,000 barrels of oil and 21 million cubic feet of gas, planned for 2027, would make it one of the largest fields in the UK — but a minnow in a world where daily demand exceeds 100 million barrels.
Rosebank has become a battleground for environmental groups in the UK, with placards reading “Stop Equinor” and “Stop Rosebank” visible at anti-fossil fuel protests throughout the country. UK-based Uplift says burning the field’s oil and gas would produce 200 million tons of carbon dioxide.
Last month, a protester disrupted a panel that included an Equinor executive and called the field a “carbon bomb.” Scrutiny is likely to increase against the backdrop of the historic deal at the COP28 climate talks in Dubai that committed nations to transition away from all fossil fuels.
Equinor and Ithaca Energy are set to invest $3.8 billion (GBP 3 billion) in the project, but Greenpeace and Uplift said the public will foot about 90 percent of the total development costs because of tax breaks.
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Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”