More than 130 countries have set or are developing net-zero targets but making these transitions is an immense task and everyone needs to pitch in: business, politics, and society. It starts with being transparent about climate contributions, which creates accountability and helps us make informed decisions.
The path to net zero will involve higher prices and society will have to face new paradigms with more conscious consumption. We may not be able to solve climate change as individuals, but the choices we make do matter. Carbon pricing, for example, would offer companies an incentive to incorporate climate risks into the cost of doing business. And reforming fossil fuel subsidies would allow clean energy to compete on a level playing field.
It is within this mindset that Siemens Energy announced last year that it is advancing its collaboration with B.Grimm to modernize 10 of their cogeneration plants by applying digitalization solutions for operation and maintenance, to reduce fuel consumption and production costs, and to enhance their availability and efficiency. Continuous advancement of innovative technologies is the key to accelerate energy transition and transformation.
Shell has been a pioneer in the development and deployment of digital technologies for decades. Today, they have over 100 AI applications in various stages of development and deployment across their businesses; a data lake with trillions of rows of data and machine learning based monitoring of over 10,000 pieces of equipment in upstream, downstream, manufacturing, and integrated gas. C3 AI and Baker Hughes play an integral part in enabling Shell’s deployment of enterprise AI solutions at scale with Shell’s predictive maintenance solutions, built on the BHC3 AI Application Platform, realizing value through increased reliability and reduction in cost.
CCUS is gaining traction as one of the transition’s key technologies, supported by rising carbon costs and supportive policies in some regions.
Demand for the technology is growing across multiple applications, from the abatement of refining and gas-fired generation, to blue hydrogen projects and multi-sector low-carbon industrial clusters.
What are the technical and financial challenges facing developers of these complex projects and what is the outlook for CCUS by sector and by geographical region as the transition unfolds over the coming decades?
IOC-to-IEC is a popular strategy among Europe’s integrated oil and gas producers. But that does not make it appropriate for NOCs, independents or even IOCs in other parts of the world. Some IOC investors are unconvinced if it is a valid strategy at all. Join Deloitte, OMV, MOL and SMBC in conversation with Petroleum Economist on what determines the best portfolio optimisation route for different classes of producers and in different geographies.
Global LNG demand is expected to reach 700 million tonnes by 2040, according to forecasts, as demand for natural gas increases and gains further traction in powering hard-to-electrify sectors. LNG operators are tasked with maximizing production from installed capacity while improving efficiency and reducing emissions, but face limitations with traditional optimization techniques that analyze a limited set of process variables and use lengthy procedures that do not produce timely recommendations.
Join Baker Hughes and C3 AI as well as a guest speaker from Shell to learn about the role of artificial intelligence (AI) in optimizing processes for improved production and energy efficiency in LNG operations. The webinar will feature industry and data science experts discussing the role of enterprise AI, the challenges with physics-only simulation technologies, and examples of AI-based optimization in LNG operations today. The session will also include a technical overview of BHC3 Process Optimization for LNG, an AI-based solution that helps increase production and reduce energy use in LNG processes.
Hydrogen Economist in association with Air Liquide will host a live roundtable on 18 November to examine the growing hydrogen mobility sector and what is needed as we transition into a low-carbon world. The panellists will explore key opportunities and challenges facing the sector, including the subsectors of road transport and aviation, what technologies are changing the industry and what further steps are needed in terms of policy and the regulatory environment to make them cost competitive with conventional fuels. The discussion will focus on the key markets of Europe and the US/Asia.
Keeping pace with the competition and wooing increasingly ESG-conscious capital are critical realities for the oil and gas sector. Operators need to cut costs and target efficiency gains but also lower their carbon and wider environmental footprints if they want to maintain strong revenues and attract potential investors. And this has only been emphasised by the past pandemic year.
Building the hydrogen economy requires investments all along the value-chain, but each link carries its own risk. Here we will look at how to ensure that risk is optimised, and managed, in the right way by the right organisations.
Our panel of speakers will discuss:
- What are typical risks in projects of this type?
- What are the risks specifics to hydrogen projects?
- How willing are governments / firms to carry this risk and how should they share it out?
In these changing times, the traditional workplace as we know it is disappearing. PE Maps is changing too, bringing their cartographic skills to a digital-first approach, whilst retaining traditional print as an option.
Built with the same care and attention to detail, the digital map offers even more scope for the creative portrayal of industry information, in a way that is easy to interpret for the user.
Watch this webcast on demand to learn how PE Maps cartographers create unique and compelling maps, using the vast amounts of data across the energy industry.
Improving operational efficiencies across the entire value chain is crucial to meeting sustainability goals, maximising resource potential and staying industry competitive. And while deploying new technologies is a vital part of the process, the latest suite of AI solutions offers operators something profoundly different.
Listen again to AJ Abdallat, co-founder and CEO, Beyond Limits and a panel of industry leaders for this exclusive roundtable.
The Microsoft billionaire and philanthropist has published a comprehensive roadmap for removing 51bn t/yr of CO2e to achieve net-zero by 2050: How to Avoid a Climate Disaster: The solutions we have and the breakthroughs we need. He systematically investigates every plausible technology and strategy, employing economic analysis to the affordability of green premiums and plausible pathways for technological development. But is he right?
The UN Cop26 in November will be perhaps the most important climate conference ever held. Article 6 could finally be agreed, paving the way for international cooperation on carbon trading. With the US newly enthusiastic and China making its first climate pledge last year, the stars may be aligning for an unprecedented global agreement.
The hydrogen economy is booming across the board and activity is now moving from grand long-term plans to concrete action. What is the most viable route to producing low carbon hydrogen with competitive costs on a relatively short timescale? Large scale production projects, twinned with carbon capture solutions or renewable sources of energy including electrolysis, are planned on both sides of the Atlantic—but the industry remains at a critical stage, with support required by governments and business models yet to be proven. This roundtable, hosted by Hydrogen Economist in association with Air Liquide Engineering & Construction, will bring together stakeholders to discuss short- and medium-term opportunities as the hydrogen economy progresses.
Many oil & gas majors have embraced the energy transition but this could prove a double-edged sword for the renewables industry. Majors’ massive balance sheets and mega-project management skills mean they are ideally placed to scale up new energy systems—but they also have vested interests and are able to distort nascent markets.
To continue to grow and thrive, organisations will need to consider the work outcomes they deliver alongside the composition of their workforces. Establishing and sustaining a net-zero workforce with the right skills and capabilities will be vitally important to meet these legal, moral and environmental goals—as well as commercial objectives.
Road haulage is among the most realistic medium-term use cases for hydrogen consumption in a hard-to-abate sector. While personal vehicles are suitable for electrification (and fuel cells) the weight and size of batteries for haulage means battery-electric will perhaps never be economically viable. On the other hand, haulage would have to compete for a scarce resource with other use cases that may have superior decarbonisation benefits and/or cost advantages.
Alternative fuels—any fuel that is not derived from conventional fossil fuels—will play a key role in the energy transition as more and more countries commit to decarbonisation and net-zero targets. Transition Economist, in association with professional services firm PwC, is pleased to present an exclusive roundtable exploring the role of alternative fuels and the pathways to commercial viability.
Natural gas will play a substantial role in global power generation over the next ten years, according to any plausible transition scenario. Replacing the remaining contribution of coal in the US and Europe will provide easy wins for decarbonisation over the period, and for far longer in Asia.
The global hydrogen market is forecast to more than double by the end of the decade. This webcast, in association with professional services firm Deloitte, will explore how supply and demand could develop in tandem over this period.
The energy transition is set to transform the economic fundamentals of energy production over the next 30 years. The paradigm is shifting from being dominated by finite hydrocarbon resources to virtually infinite renewable energy, which also offers extremely low marginal costs. In association with Berkeley Research Group.
That the Eastern Mediterranean has sufficient volumes of discovered and discoverable gas reserves to become a globally relevant supply centre has not been in doubt for several years. The challenge has always been how to monetise discoveries that lie in multiple jurisdictions and often in deep water, in a region that has both geographic advantages but also geopolitical challenges.
Energy transitions around Asia Pacific are as varied as the countries of the region, but several themes are emerging. Gas is set to play a major role in displacing coal, new renewable projects are emerging regularly and the potential of hydrogen is being seriously considered in the most developed economies. While there are huge differences in the pace of transitions around the region, the direction of travel is now indisputable.
Committing to the Paris Agreement is just the first step in the move to a lower-carbon future. Energy and industrial companies must soon commit, in a world of unprecedented uncertainty, to long-term strategic decisions that may have existential consequences.
Since the landmark energy reforms were introduced in late 2013, sweeping change has reverberated across Mexico’s oil and gas industry. After 75 years of tight government control, the energy sector was pried open to foreign involvement for the first time as international companies surged to participate in a series of breakthrough bidding rounds.
The International Maritime Organization has set an ambitious target to reduce the CO2 emissions of international shipping by at least 40pc by 2030 and towards 70pc by 2050. But how can the industry be decarbonised at a cost that is not unduly detrimental to global trade?
Digital technologies are rapidly transforming every aspect of oil and gas value chains. New tools are being leveraged to help drive down costs, improve efficiencies and disrupt legacy business models and strategies. Covid-19 and volatile market conditions have only accelerated the importance of laying down the digital groundwork for future value creation.
Production of low or zero-carbon hydrogen on an industrial scale needs to be built in tandem with the emerging sources of demand across the economy. The ultimate goal is to be able to create hydrogen on a cost-competitive basis with grey hydrogen, which uses a carbon-intensive methane steam reforming process and currently dominates industrial supply, as well as conventional fuels/sources for power generation.
The widespread application of hydrogen solutions will be an essential contributor to countries being able to achieve their carbon-emission reduction commitments under the Paris Agreement. Hydrogen has vast potential as a versatile fuel that can be applied to a wide variety of sectors, from heavy industry to urban settings, and is particularly useful in sectors unsuitable for electrification.
The science behind the hydrogen economy has been around for many years, but only now are the necessary real-world factors coming together to support its implementation. Is this the right time to start building a hydrogen economy?
It has certainly been an eventful year for the global economy and energy markets. Many oil and gas producers had set out plans to transition to lower carbon fuels—but will this trend accelerate or lose momentum?
This webcast looks at the positives that remain for the UKCS even during the depressed price environment, but also examine the risks it poses for the MER strategy. We will ask what happens to assets that have changed hands in recent years and how the M&A landscape looks for the future.
The OFSE sector is under severe pressure globally - given sharply lower oil prices, c.30pc capex cuts across the industry and continuously declining rig counts - and the challenges are particularly acute in the US shale oil sector. How should participants respond and how will the industry evolve?
The relationship between oil and gas producers and their customers is going through the biggest change in a generation. Petroleum Economist, in association with King & Spalding, is hosting a webcast on how the Covid-19 pandemic and oil price crash is impacting existing contracts and the negotiation of new ones in this new era.
The second webcast of the 'PE Live' series, in association with Shearman & Sterling will cover:
- The prospects for and challenges of M&A in the current swiftly evolving market
- The way forward for M&A as the post-coronavirus picture becomes clearer
- The strategy of majors and other large IOCs
- Learnings from the aftermath of previous price collapses and their relevance this time round
- Potential acquisition targets
Join Petroleum Economist and special guests on the first PE Live webcast on Tuesday 7th April.
Some key questions our expert panellists will be answering:
• Is there a scenario where a sustained production war combined with unprecedented global demand impact changes the oil market forever?
• Do Saudi Arabia and Russia have any choice but to step back, given the escalation of Covid-19’s demand impact?
• What does the future of the US shale patch look like in various supply and demand scenarios?
• How do other production centres cope in the new price environment?
• Is cheap feedstock enough to protect refined products and petchems markets from the demand shock?