France Plans To Halt Production Of Its Own Oil And Gas In 2040

- Sep 13, 2017-

China energy storage net news: on September 6, according to bloomberg reported that the French cabinet meeting proposed a draft bill on the same day, program starting from next year to stop issuing new oil and gas exploration permit, so as to completely halt France 2040 years ago in the oil and gas exploration and production.

According to the regulation of the draft, more than 40 have submitted application for oil and gas exploration, or will be faced with the French government "rejected", while the existing oil and gas exploration license will temporarily according to the original contract execution, but the time limit not more than 2040 years.According to an adviser to France's ministry of environmental protection, the temporary maintenance of the "original" will include maritime exploration permits in French Guiana.In addition, the bill explicitly prohibits the exploration and exploitation of all shale gas.

"At the moment, oil and gas have given us geopolitical attachment," Nicolas Hulot, the French environment minister, said after a cabinet meeting.The bill will allow us to gradually liberate ourselves.It will also encourage investors to invest more in clean energy."

It is reported that the French government will be the proposed bill, as the leading the global response to climate change, part of the plan, and that through the implementation of the law, can reduce the possibility of French Guiana to continue development of oil and gas.The French government hope, through the legislation, the future can not only fulfill the French commitments in the Paris agreement, can also encourage the development of clean energy, free France gradually from fossil fuels.

At present, there are 63 oil and gas Wells in France and 6 million barrels of crude oil in 2015, according to data compiled by the French media.France's indigenous oil and gas exploration activities directly and indirectly create 5,000 jobs, bringing in 300 million euros ($358 million) a year to France.However, indigenous oil and gas account for only 1% of total oil and gas consumption in France, and most of France's oil and gas is imported from abroad.

The French government has also been concerned that the new law, which bans local oil and gas exploration and production, could affect some oil and gas producers.But Vermilion energy, which is based in France, said: "we expect that this new legislation will not have a significant impact on the French oil and gas companies once it is passed.As far as we are concerned, the focus of the business is mainly on development activities, with little conflict with the provisions of the new law.

In fact, in recent years, France has been seeking to get rid of fossil fuels and switch to cleaner energy supplies.In July, the ministry of environmental protection announced that it now accounts for 5 per cent of France's electricity generation, and that France will stop using coal by 2022.In addition, France has proposed to stop selling gasoline and diesel vehicles in 2040;It will gradually raise taxes on fossil fuels, close coal plants and increase investment in clean energy.At the same time, France is no longer "in favor" of nuclear power, with plans to cut nuclear energy to 50 percent of its energy mix by 2025 from the current 75 percent.

The French government believes that the ban on local oil and gas exploration and production is an unprecedented initiative that will help France to "clean up" its energy supply.