Adipec, the world's most influential gathering for energy industry professionals, is introducing this year the Decarbonization Zone, a new addition that reflects the growing need for decarbonization strategies in the energy industry.
The zone will be a forum for leaders in the energy ecosystem to discuss low-carbon technologies, and the essential role the oil and gas sector plays in accelerating the transition from fossil fuels to cleaner forms of energy, an Adipec release said.
Meeting net-zero targets requires a fundamental transformation of the energy industry and CCUS, hydrogen, reducing methane emissions and new technology will play a central role in that process.
The decarbonization of global energy will be central to limiting average global warming to achieve net-zero by 2050. The Decarbonization Zone will be the centre of that conversation, with the most influential energy providers reinforcing their strategies and discussing low-carbon technologies as they navigate the route to decarbonization.
“Leaders in this industry understand that decarbonization is essential. Getting there means starting now. It will take sincere collaboration and systematic change to achieve net-zero emissions. There is no better place than Adipec for engaging the world's energy buyers and producers at all levels of the business on the solutions that are necessary to succeed in time,” said Mark Brownstein, Senior Vice President for Energy Transition Environmental Defence Fund.
The Decarbonization Conference, taking place in the Decarbonization Theatre in November is an engaging programme gathering global experts to share their insights into the most innovative strategies and technologies centered on 4 pivotal themes for the industry: Methane, Hydrogen, Carbon Capture, Utilization and Storage (CCUS), and New Energies.
The Decarbonization Conference will feature a series of interviews and technical presentations from leading industry innovators and solution providers.
The conference will facilitate sessions aimed at providing the latest innovations that will enable all stakeholders to address the growing demand for green solutions, attract strategic partnerships and cross-industry participation, generate funding mechanisms, and convert innovative ideas into a practical solution towards leading a cleaner energy future.
One of the most significant opportunities to reduce the oil and gas sector’s greenhouse gas footprint includes reducing methane emissions. Methane emissions efficiency can be economical for natural gas producers, with most methane emissions profitable or cost neutral to abate.
In addition, methane emissions can be eradicated or minimized by applying a host of common sense practices, such as preventing venting during the exploration and production of natural gas, prohibiting flaring, avoiding fugitive emissions from valves and compressor stations, and making sure that burning is not incomplete.
According to the Hydrogen Council, hydrogen can provide the lowest cost decarbonization solution for more than 20% of final energy demand by 2050, contributing to a cumulated reduction of 80 gigatonnes of CO2.
Hydrogen, produced from renewable electricity, has emerged as a promising fuel due to its high energy density, high conversion efficiency, storage potential, and the advantage of clean fuel. As a result, hydrogen has a key role in the global energy transition by helping to diversify energy sources worldwide, foster business and technological innovation as drivers for long-term economic growth, and decarbonize hard to-abate sectors.
Carbon Capture Technology (CCUS) technologies offer significant strategic value in the transition to net-zero. CCUS can generate negative emissions by combining with bioenergy or direct air capture.
With CCUS costs declining, and new business models that can improve the financial viability of CCUS emerging, the coming decade will be critical to scaling up investment in developing and deploying CCUS.
The energy transition is characterized as the change from fossil fuels to cleaner sources of energy, primarily renewables. According to the IEA a new energy economy is coming into view, ushered forward by policy action, technology innovation and the increasing urgency of the need to tackle climate change.
Many oil and gas companies have set net-zero carbon emissions targets and are exploring strategies and investments in wind, solar, biofuels, and electric vehicles to position themselves as broader energy providers, embracing the idea of becoming multi-faceted energy companies.