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Story summary
- The North Sea Transition Authority (NSTA) estimates that significant resources remain in the North Sea, though much has been extracted.
- Current projections show production could decline due to government regulations and taxes.
- OEUK argues that reducing taxes could stabilize output and meet more than half Britain's gas demand by 2035.
- However, full energy independence remains distant, risking reliance on imported liquefied natural gas and higher costs and emissions.
