New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
Key levers for oil and gas decarbonisation
31/5/2023
8 min read
Feature
A new report by the International Energy Agency (IEA) suggests there are five key levers for the oil and gas industry to significantly reduce its carbon emissions footprint. New Energy World Features Editor Brian Davis reports.
The IEA estimates that the oil and gas sector emitted about 5.1bn tonnes of CO2 in 2022. However, the Agency suggests in its Net Zero by 2050 scenario that the emissions intensity could be cut by 50% by 2030, if the sector takes sufficient action and ups its game.
Significant decarbonisation of the fossil fuel sector will depend on five key levers, according to a new IEA report Emissions from oil and gas operations in net zero transitions.
Recommended measures include tackling methane emissions; eliminating non-emergency flaring; electrification of upstream facilities; equipping oil and gas processes with carbon capture, utilisation and storage (CCUS); and expanding the use of low-emission hydrogen in refineries.