This week in energy: exciting CCS collaborations, insights on energy transition and Petra Nova back up and running
Each week, the Asia Natural Gas and Energy Association (ANGEA) compiles stories from the energy world that have caught our eye.
Given the region in which we operate – and our purpose – this collection of content is largely Asia-focussed. But we also look further afield, knowing that developments, trends and technology from around the world also have an impact across our region.
Here’s what has resonated over the past seven days.
Woodside’s exciting CCS venture
The potential of Australia as a storage destination for CO2 produced in Asia is undoubted – and it’s great to see ANGEA member company Woodside Energy looking to realise it.
Woodside announced a pair of CCS value chain studies around Gastech, including a partnership with Kansai Electric Power that will investigate the Australian injection and storage of CO2 produced in Japan, as well as the potential production of e-methane.
Woodside is also collaborating with a consortium of Sumitomo, Toho Gas, and K line about a Japan-Australia CCS chain involving all four companies.
Read more: https://bit.ly/44KJxUL
Fascinating energy transition insights from ExxonMobil
ExxonMobil Chairman and CEO Darren Woods recently gave a detailed interview to McKinsey and Co on energy transition, which we very much rate as a “must-read.”
The interview covers an incredibly wide range of topics – far too many for us to sum up here – but the following lines definitely caught our eye:
““Some define the issue as, ‘We need to get rid of oil and gas.’ The issue needs to be defined as, ‘We need to address the emissions associated with the combustion of oil and gas’.”
Read more: https://bit.ly/45RPXmo
Darren Woods, chairman and CEO of @ExxonMobil recently sat down with @McKinsey senior partner Thomas Hundertmark to explore ExxonMobil’s view of the changing energy landscape, taking on adversity, and the leadership lessons that come with bouncing back. https://t.co/eG1UyF4U2M pic.twitter.com/jCya7hbGxa
— Energy Solutions by McKinsey (@McK_EnergyIn) September 12, 2023
Our take on Gastech 2023
ANGEA CEO Paul Everingham thoroughly enjoyed the opportunity to take part in Gastech in our “home city” of Singapore.
Looking back over four very busy days, Paul landed on three key takeaways that will help ANGEA set a policy platform to support energy transition in Asia over the year ahead.
Read more: https://bit.ly/467BtPa
The net zero discussion is changing – and so must our thinking
In a new section on the ANGEA website, our Senior Advisor and oil-and-gas “veteran” Neil Theobald provides his opinion on significant issues in energy transition.
In the first installment, Neil drills down on the pathway to net zero and the problems that can arise when types of technology are ruled out because of ideology rather than a a dispassionate evaluation of risks and benefits.
Read more: https://bit.ly/3Rf6zjz
Thailand pursuing long-term LNG contracting
The ability of emerging nations in Asia to find ways to access longer-term (and/or more flexible) LNG contracts was a key policy recommendation of the Rystad Study Into Energy Security In Southeast Asia.
It’s pleasing to see Thailand headed down this pathway, with M.L. Peekthong Thongyai, senior vice president of PTT’s gas business unit, telling Reuters:
“We want to change that to a more traditional (ratio) for an importing country like us. Maybe a 80:20 mix or 70:30.”
Read more: https://bit.ly/3sP2GHX
Significant milestone for a flagship CCS project
There was some great news out of Texas in the past fortnight, with confirmation that the Petra Nova carbon capture project was again operational.
The groundbreaking facility – which uses technology from ANGEA member company Mitsubishi Heavy Industries – captured more than 94 per cent of CO2 from the flue gas slipstream of a power-generation plant after first opening in December 2016.
The project was shut down because of the economic impacts of the COVID-19 pandemic but is now back up and running, showcasing the ability of CCS to be retrofitted to existing power plants.
Read more: https://bit.ly/3sMWUGC
Petra Nova – one of the world’s three carbon capture and storage (CCS) installations on a coal-fired power plant, has reportedly restarted operations on September 13th.#carboncapture #carbonemissionshttps://t.co/V7FjX4JVpc
— Carbon Herald (@CarbonHerald) September 14, 2023
‘Concrete’ evidence of CCS potential
One of the areas in which CCS is best poised to assist decarbonisation efforts is hard-to-abate sectors – such as steelmaking and chemical and cement manufacturing.
An excellent article published this week by the Canadian Broadcasting Corporation focusses on how CCS is presenting as a tangible way in which the cement industry can reduce its emissions.
As the article points out, the world simply isn’t going to stop using cement and concrete, and it’s a good case study for Asia given the large industrial clusters located throughout our region.
Read more: https://bit.ly/3PGb3OZ
Amazon makes first investment in direct air capture
Amazon has joined fellow tech giant Microsoft in announcing that it will invest in direct air emissions capture technology.
The online retailer announced this week that it would purchase 250,000 tons of removal credits over 10 years from the 1PointFive plant in Texas – one of two large-scale hubs selected to received Department of Energy funding to advance the technology.
Read more: https://bit.ly/48fEBKz
ANGEA is an industry association representing LNG and natural gas producers, energy buyers, suppliers and companies in APAC. Based in Singapore, it works in partnership with governments and societies across the region to deliver reliable and secure energy solutions that achieve national economic, energy security, social and environmental objectives and meet global climate goals.