Low Emissions Roadmap
Oil and gas companies will have to focus on achieving both greater energy efficiency and lower carbon intensity, if we are to produce enough energy for more people, with fewer greenhouse gas emissions. We are researching what scenarios intended to limit the global temperature rise to 2°C or below mean concretely for the oil and gas industry. Our ultimate aim is to identify the most effective levers for oil and gas companies to help deliver this goal collectively and transform ourselves individually.
Carbon Capture, Utilization and Storage
Carbon Capture and Storage (CCS) is an important part of decarbonising global energy systems. It could account for 13% of the required reduction in greenhouse gas emissions by 2050 according to the IEA’s 2°C scenario and substantially more if this goal is reduced to 1.5°C. CCS projects are already underway, but large-scale deployment will require us to reduce costs, develop viable market mechanisms and improve our understanding of geological storage capacity. We are working on programmes to accelerate the search for concrete solutions to these challenges.
Managing Methane Emissions
Natural gas can play a significant and immediate role in reducing fossil fuel emissions since it has half the carbon intensity of coal – but it can only play this role if we manage to accurately measure and then reduce methane emissions. We are collaborating on research to fill the gaps in methane data and detection technology to help both companies and policy-makers act more effectively.