Lucky Chugh, Author at Global Energy Network - Page 1372 of 1479

GENI Index 55 ▲ +2 Brent Crude $108.39 ▼ -1.87% WTI $101.58 ▼ -6.05% Natural Gas $3.07 — Global rig count 551 ▲ +3 GENI Index 55 ▲ +2 Brent Crude $108.39 ▼ -1.87% WTI $101.58 ▼ -6.05% Natural Gas $3.07 — Global rig count 551 ▲ +3

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The Tyra field in the North Sea is set to cease gas production in 2042, but the Confederation of Danish Industry (DI) wants to extend it until 2050. Denmark should continue to extract its own gas in the North Sea at the Tyra II natural gas field until the very last moment in 2050, says Lars Sandahl Sørensen, chief executive of DI, at the official reopening of the gas field in Esbjerg. “We should reduce our dependence on oil and gas from countries outside Europe – especially from Russia. This makes Tyra II not just a Danish project, but a European opportunity,” he says. Today, Tyra II has permits to produce until 2042. This means that gas production will stop eight years before the Danish Parliament’s North Sea Agreement officially ends the Danish oil and gas adventure in 2050. The North Sea Agreement was concluded as a major climate policy achievement, with Denmark making its mark internationally by setting an end date for oil and gas production. If it were up to the Confederation of Danish Industry, climate policy should not be over-implemented by taking the field out of operation prematurely. “As part of the decision to reopen the Tyra field, we should reconsider the possibility of utilizing the existing licenses until 2050—and not just until 2042, when the current permits expire,” says Sandahl Sørensen. The Tyra field has been a fossil fuel source for Denmark with oil and gas production for decades since it was discovered in 1968. In 2019, however, gas extraction was put on hold because the drilling platform needed to be renovated. Production resumed in 2024, and on Monday the field was officially reopened with a ceremony at the Port of Esbjerg. For the Confederation of Danish Industry, it is a significant day. “The reopening of Tyra II marks a historic day for both Denmark’s and Europe’s energy security,” says Sandahl Sørensen.

DI wants to extend gas production in the North Sea

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