Carbon capture to play key role in Mol strategy
The Hungarian oil and gas firm aims to build a business on the back of not only its own carbon emissions, but also those of third parties
Mol’s late February update of its long-term strategy towards moving “profitably towards net zero” foresees the firm becoming a “key player in the low-carbon circular economy in Central and Eastern Europe”. And part of the vision is the firm leveraging its existing carbon capture, utilisation and storage (CCUS) expertise in the region, upstream chief Berislav Gaso tells Transition Economist. His division has ambitions to reduce its scope 1 and 2 emissions—across not just its European assets that fall under the scope of the EU ETS, but also in the global portfolio—to zero by 2030. Gaso sees three key challenges: cutting flaring, decarbonising required power generation and minimising venting. “
Also in this section
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies
8 April 2024
Chevron New Energies is lead investor in funding round by Colorado-based provider of post-combustion capture technology