Together with our German, Danish, British and Norwegian counterparts, Element NL signed a declaration during COP26 to ensure intensive collaborative efforts on the energy transition. We will share our experiences and best practices in areas such as CO2 and methane reduction, CCS and hydrogen. This cooperation is unique in Europe and will help to accelerate the energy transition, which does not stop at national borders.
The oil and gas industry is developing many initiatives and pilots in relation to the energy transition. This takes place in the Netherlands, for example, under the auspices of the North Sea Energy programme (NSE). NSE has some forty partners who all make their own contributions to developing a roadmap for offshore system integration in the North Sea. We will share the knowledge gained through this programme with the four other national oil industry associations (NOIAs) with members operating in the North Sea.
We can also learn from initiatives in our neighbouring countries. In the spring, the British government concluded agreements with its oil and gas sector about the energy transition in a North Sea Transition Deal. In a letter dated 1 November, the Dutch government announced that it would also be launching talks with the Dutch gas sector on a similar deal. The international cooperation announced will help us to reach a deal in the Netherlands more quickly, because much of the preparatory work has already been done by our British counterparts. We can certainly learn lessons from their approach and the final outcome.
This agreement represents a milestone in mutual cooperation. We will make best possible use of the knowledge already gained, so we will not be reinventing the wheel. We will also build further on the initiatives already started. What's more, we are working to accelerate the energy transition, not just in the Netherlands but also in our neighbouring countries. These are some of the ways our sector is helping to achieve the national climate targets and those of the Paris Agreement.
Read the joint press release here.