Create log views for each project team, and only show each project team their application logs. Grant the operations team access to the _AllLogs View in the central logging project1.
This approach aligns with the Google Cloud's recommended methodologies for Professional Cloud DevOps Engineers1. Log views allow you to create and manage access control at a finer granularity for your logs. By creating a separate log view for each project team, you can ensure that they only have access to their respective logs. The operations team, on the other hand, can be granted access to the _AllLogs view in the central logging project, allowing them to view all logs as required.
This solution not only meets the security team's requirements but also minimizes costs as it leverages built-in features of Google Cloud's logging and does not require exporting logs to another service like BigQuery (as suggested in option A), which could incur additional costs1.