Net zero hero – five strategies for oil and gas producers
Bradley Farrell A *A Turner & Townsend, Perth, WA, Australia.
The APPEA Journal 62 S17-S20 https://doi.org/10.1071/AJ21197
Accepted: 29 March 2022 Published: 13 May 2022
© 2022 The Author(s) (or their employer(s)). Published by CSIRO Publishing on behalf of APPEA.
Abstract
In the last 12 months, Australian oil and gas producers have been busy announcing their ambition to become ‘net zero emissions’ businesses by 2050, or sooner. Achieving this will require a significant shift in strategy in how companies operate, and in what they produce. In pursuing these new net zero ambitions, we see five major strategies in play: reducing scope 1 and scope 2 emissions; deployment of carbon capture, utilisation and storage (CCUS) technologies; use of general and cargo-specific carbon offsets; pursuit of hydrogen production at scale; and displacing higher-emissions fuels in the global energy mix. This paper provides an overview and integrated programmatic approach to realise these strategies, including a case study from a recent global oil and gas producer.
Keywords: 2050, carbon, carbon capture utilisation and storage, carbon-neutral, CCUS, CO2, emissions, greenhouse gases, hydrogen, LNG, natural gas, net zero, offsets, program, roadmap.
Bradley Farrell is a Director at Turner & Townsend. He specialises in providing consulting and advisory services to exploration and production companies, especially those with interests in LNG. Bradley’s oil and gas industry experience includes strategy development, business transformation, capital programs and projects, integrated operations and corporate services. At Turner & Townsend, Bradley is the Program Advisory Leader for Australia New Zealand. Bradley has an MBA from Curtin University. He is a regular speaker at APPEA. |
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