Join Dr. Pratima Rangarajan, Chief Executive Officer of OGCI Climate Investments, interviewed by Atul Arya, Senior Vice President and Chief Energy Strategist, IHS Markit.
Oil and gas companies are responding to the pressures to reduce the carbon intensity of their upstream operations by reducing energy consumption through optimization of processes and assets, incorporating less carbon-intense power sources, and detecting and remedying unintended emissions. What are the emerging emission-reducing, technology-enabled organizational and operating models? How do these models fit within the broader context of upstream and energy regulations and stakeholder concerns? As new technologies become available to help reduce a company’s upstream carbon footprint, what technologies (will) have the greatest impact and how do companies effectively prioritize among them? To what extent do policy regulations versus internal targets influence the carbon reduction activities of companies, and how do the effects of these mechanisms differ? What are the organizational aspects when incorporating low-carbon technologies and operations into existing workflows?
Major emitters, such as utilities using coal and gas and heavy industries, require technologies that can enable longer-term use of fossil fuels while capturing and storing CO2 emissions. CCS and CCUS technologies have been around for decades; however, deployment is still in early days. In December 2019, US National Petroleum Council (NPC) completed a major study “Meeting the Dual Challenge, A Roadmap to At-Scale Deployment of Carbon Capture, Use, and Storage.” This study outlined a roadmap along with a set of recommendations to the US policy makers to significantly accelerate development and deployment of CCUS technologies. This panel will use the NPC study as the context to discuss the state of CCUS and the outlook not only in the United States but around the globe.