500 carbon capture reps attending COP29 has caused significant criticism, however dismissing the oil and gas sector entirely is a grave mistake in the net-zero journey
The level of criticism aimed by some at the number of carbon capture specialists allowed to attend COP29 has highlighted the gaps that exist between the oil and gas industry and environmentalists and the reasons why there has not been the necessary progress on the net-zero journey to date.
Around 500 lobbyists of the carbon capture industry were invited to attend the United Nations climate summit, COP29 in Azerbaijan. This has led to criticism from various areas and claims that carbon capture and storage is not a viable solution to make an impact on the journey to net-zero.
Carbon capture, however, has been constantly put forward as an effective way of reducing the impact on the environment by reducing the amount of carbon dioxide that enters the atmosphere from power stations and industrial processes. Some argue that this means that processes that produce carbon dioxide continue, however there has to be an acceptance that the 2050 deadline to net-zero does not mean that there is an end to all fossil fuels. Indeed, fossil fuels are likely to still make up 20 per cent of current levels by the time the deadline comes about. Therefore, having solutions in place that reduce the impact on the environment of these has to be a critical step forward.
The British government for example, has just invested £22 billion in carbon capture, an investment that will see carbon emissions reduced by 8.5 million tonnes a year.
However, the wholesale criticism of a solution that will undoubtedly make a real impact on the environment shows just how big the gap currently is between groups, as Clare Miszewska-Hall, Head of Global Sales & Marketing at AnTech explains:
“This ‘uproar’ from certain elements really highlights the gap in expectations and reality. The expectation that 2050 will mark the end of all fossil fuels is unrealistic and to criticise the use of solutions that reduce the amount of carbon dioxide released into the environment seems a step backwards.
“Accepting the fact that fossil fuels will have to continue to play a part in our energy supply means that we also have to look at better ways of extracting and using it, reducing its impact on the environment.
“Research organisation the Institution for Energy Economics and Financial Analysis pointed out that carbon capture projects are generally underperforming and unlikely to be as economical as renewable-based solutions. There are two considerations here. Firstly, if 20 per cent of fossil fuel use is still needed in 2050 then renewable will not be able to cope. Secondly, cost and underperformance of carbon capture projects is often associated with technology.
“Investing in new technology in order to capture and importantly, safely store carbon, can lead to huge costs. However, by looking to the oil and gas industry the expertise and solutions that already exist within it can help reduce cost and project failure. The sector can already help with carbon capture and storage due to its long-time experience in underground reservoirs, drilling and injection operations.
“For example, technology already exists within the sector that can help improve continued use of existing sites by increasing storage capacity within the carbon storage reservoirs with specialist drilling solutions. This means it can utilise existing sites meaning new sites do not have to be drilled. This means that the footprint and impact can be minimised as well as the cost.
“However, for this to happen there has to be collaboration between all parties. Without this and without the understanding that the oil and gas sector can help move the planet towards a net-zero future, the further away we are going to be from hitting the 2050 deadline.
“To entirely dismiss a solution and entire industry because of where they currently sit is foolhardy. Equally, without considering what can be learnt and added from the decades of experience that sits within that sector is throwing away a fantastic opportunity to reduce pollution and get to a point where everyone can benefit from a greener future,” Miszewska-Hall concludes.
