Research Themes
At the London College of Energy Economics, our policy-oriented research addresses clean transitions for the international oil and gas industry to a net-zero future. Below, we highlight three core themes that address the challenges and opportunities in achieving clean energy goals.
1. Synthetic Fuels and CCUS
This theme explores the development of synthetic fuels alongside innovative CCUS solutions to reduce emissions from oil and gas operations. Research includes economic modelling of large-scale CCUS deployment, such as facilities capturing millions of tonnes of CO₂ annually, and the production of synthetic fuels using captured carbon to create low-carbon alternatives for transportation and industry, supporting the decarbonization of fossil fuel-based systems while aligning with net-zero targets.
2. Integration of Renewable Energy in Oil and Gas Operations
Focusing on hybrid systems, this research examines how oil and gas companies can diversify into renewables like wind, solar, and sustainable fuels. Key areas include analyzing market dynamics for renewable integration, such as surpassing targets in wind and solar capacity, and developing business models that enhance grid resilience and reduce reliance on traditional fuels.
3. Policy and Economic Frameworks for Energy Transition
This theme investigates policy levers and investment strategies to support the oil and gas industry’s shift to sustainable practices. Studies cover the economic implications of gas supply relations, carbon pricing, and collaborative efforts to meet future demand projections—where oil remains steady and gas demand grows by 15% by 2040—while accelerating the adoption of clean technologies.
4. Designing Business Models for the Future Oil and Gas Industry
This theme focuses on developing innovative business models to ensure the long-term sustainability of the oil and gas industry. Research explores strategies for diversifying revenue streams, such as investing in low-carbon technologies, hydrogen production, and circular economy practices, while maintaining economic viability in a decarbonising world.
Research Projects
- Feasibility of Hydrogen Exports from the Arab Countries to Europe (in Collaboration with UNECE and Imperial College London)
- Achieving Growth and Net Zero: Soft-Link Modelling of Indonesia’s Electricity Systems (Host Institution: Imperial College London)
- Investing in Hydrogen Business Models in Saudi Arabia (Host Institution: Imperial College London)
Recent Research Contributions
Working alongside the IEA analysts and international oil markets experts, the London College of Energy Economics has been delighted to contribute to the IEA study on “The Implications of Oil and Gas Field Decline Rates”, published by the International Energy Agency, September 2025. The report examines the accelerating decline in production from existing oil and gas fields, highlighting significant implications for global energy markets and security.
Analysing data from approximately 15,000 fields worldwide, the report notes that global average annual post-peak decline rates are 5.6% for conventional oil and 6.8% for conventional natural gas. These rates vary widely by region and field type: from 1.8% in the Middle East to 9.8% in Europe. Yet, unconventional resources face steeper declines, with output dropping over 35% in the first year without investment.
The report reveals that the decline rates have increased since 2010, with oil production losses rising from 4 mbpd to 5.5 mbpd annually, and natural gas from 180 to 270 billion cubic meters (bcm). To maintain current production levels by 2050, over 45 mbpd of oil and 2,000 bcm of gas from new conventional fields would be required, meaning that there is a growing reliance on unconventional resources and faster decline rates necessitate significant upstream investment—nearly 90% of which offsets existing field losses—posing challenges for energy security.
Key Collaborators
