Ever since the Paris Agreement entered force on 4th November 2016 with the objectives to limit the increase in global temperature to below 2°C, back to pre-industrial era, while supporting nations in technology advancement and funding support for reducing the greenhouse gas emissions. 189 nations have ratified and supported its cause towards neutral carbon emissions (or some would call zero carbon emissions or net zero emissions).
Nations worldwide are working with industries to realise this vision. The oil and gas industry has taken leaps towards reducing their carbon footprint. Among the methods to reach towards neutral carbon emissions are to have a Carbon Capture, Utilisation and Sequestration (CCUS) in oil and gas fields, use of cleaner fuels such as natural gas, renewable energy such as solar and wind, and energy storage via battery cells. Many oil and gas companies declared their commitment to reach neutral carbon emissions and started to venture into technological advancement or branched out into renewables. The policymakers are developing policies that would support companies to abide to the Neutral Carbon Emissions plan.
This panel session shall discuss the challenges and opportunities the oil and gas industry could venture into in realising neutral carbon emissions.