Mr. Gurmeet Singh, DG FIPI delivering the welcome address.
Dr Raj Deo Tewari, Chief Scientist R&D in Group Research & Technology, Petronas in his presentation on the “Important Role of CO2 Capture Utilization and Storage in the Energy Transition”.
Dr. A K Balyan, former MD & CEO Petronet LNG, in his presentation on the “Energy Transition & Role of LNG/ Gas.
Mr. T K Sengupta, Director (E&P) FIPI delivering the Vote of Thanks.
The Federation of Indian Petroleum Industry (FIPI) organized an exclusive webinar on ‘Energy Transition & Decarbonization - Role of LNG & Application of CCUS’ on 08th June 2022 over virtual platform. The webinar was aimed at understanding the role of Natural gas, LNG and CCUS in energy transition to pave a way forward for implementation of these concepts & technologies in the industry.
Two eminent speakers Dr. A K Balyan, former MD & CEO Petronet LNG and Dr. Raj Deo Tewari, Chief Scientist R&D, Group Research & Technology, Petronas, Malaysia shared their thoughts and experiences with the participants on the Role of LNG and objective of the CCUS as a viable CO2 mitigation option and its long-term outlook in decarbonizing the energy sector.
Commencing the proceedings of the webinar, Mr. Gurmeet Singh, Director General, FIPI extended a warm welcome to the speakers and participants. In his welcome address, he highlighted that with the following initiatives by the Government, India is already underway towards energy transition:
He further added that FIPI is also working in this direction by organising various webinars, knowledge sharing sessions and conducting studies with a focus on clean energy and transition.
Dr Raj Deo Tewari, Chief Scientist R&D in Group Research & Technology, Petronas in his presentation on the “Important Role of CO2 Capture Utilization and Storage in the Energy Transition” emphasised that there is an urgency to significantly cut GHG emission to avoid the economic and human consequences of severe climate change. Dr Tewari highlighted the following through his presentation:
Further, Dr Tewari has also talked about various CCS Facilities across the globe which are at various Stages of Developments, Current and Future CCS capacity, typical CO2 storage development plan required for such storages and its well management, various requirement for Certification of Sites for geological CO2 storage.
Dr Tewari further gave details of various CO2 storage facilities developed across the globe along with its challenges. The examples included from Gorgon Project- Australia, Snøhvit Project- Norway, Sleipner Project, In Salah Project, Weyburn Project-Canada, Tomakomai CCS Demonstration Project Japan.
Lastly, Dr Tewari has briefly summarized the primary points of his presentation as:
Dr. A K Balyan, former MD & CEO Petronet LNG, in his presentation on the “Energy Transition & Role of LNG/ Gas” emphasised that use of energy today cannot be seen in isolation and the true cost of energy is more than just few dollars/cents. It is important to take into consideration the consequences of choosing an energy source as it has economic, political, social and environmental factors attached to it.
Dr. Balyan emphasised on the various Energy Scenarios and informed that energy scenarios mapping not only impact the choice for the energy-mix, technology and investments, but also the intensity with which the societies and nations pursue its behaviour and policies. Dr. Balyan gave brief about some of the popular energy scenarios as follows:
Dr. Balyan further added that the Global Energy Transition Trends is driven by technological development, national & industry climate commitments, policy changes and financial sector. While taking about the features of Energy transition, Dr. Balyan highlighted that:
While talking about Carbon neutrality in LNG, Dr. Balyan added that the parties engaged in trade have the option to offset the amount of CO2 equivalent associated with the whole carbon footprints of the LNG cargo (including production, liquefaction, shipping, regasification & end use) through VCS (Verified Carbon Standards) in certified emission reduction projects. In the carbon neutral LNG trade, GHG emissions from supply and/or consumption are accounted for and offset by procuring and retiring carbon credits generated through GHG abatement projects such as afforestation, farm/soil management and methane collection. The 1st carbon neutral cargo traded was in 2019 and there are 15+ carbon neutral cargoes sold so far.
The next segment of the session was audience Q&A. For this session, an overwhelming number of questions were received from the audience, which also stood testimony to the audience interest on the subject. The two and a half hour long session witnessed an overwhelming participation by over 180+ participants across the oil and gas value chain in the country.
At the end, Mr. T K Sengupta, Director (E&P), FIPI extended sincere gratitude and thanked all the two speakers Dr Raj Deo Tewari, and Dr. A K Balyan for giving their valuable time and for sharing their experiences on the Energy Transition & Decarbonization perspective focussing on CCUS & LNG. He also thanked all the participants for taking out their time and listening to the session.
The session was brought to an end, wishing all speakers and participants the best of health.