Net-zero targets and emission reduction initiatives in Northwest Europe have created huge opportunities in offshore wind, hydrogen, and CCS for countries bordering the North Sea, Westwood said.
To leverage these, collaboration between stakeholders is going to be essential, creating markets for hydrogen and carbon where there were previously none while integrating the offshore wind sector to maximize wind as a reliable energy source.
Westwood said that, while these countries may all be targeting Net-Zero by 2050 or sooner, their approach to decarbonization and thus opportunities will differ, depending on the existing energy supply mix, a country’s economic make-up, and available carbon storage potential.
A high density of emissions-intensive heavy industries has resulted in the UK adopting an industrial decarbonization cluster approach. By 2030…