Both the existing and new energy sources will be needed to satisfy the world's needs for energy and economic development, while concurrently promoting climate protection, said Saudi Aramco President & CEO, Amin H Nasser.
Speaking at the 2019 Oil & Money Conference in London this morning, Nasser discussed the need to have a more realistic, comprehensive and inclusive strategy to make Greenhouse Gas (GHG) emissions management more effective.
Nasser said: “We could consider four key strategies that have the potential to make the global effort for GHG emissions management much more effective – going beyond electric power generation and light duty passenger transport; extending clean R&D and technology funding to include existing energy resources; moving toward a circular economy; and taking advantage of the greenhouse-gas reduction synergies across economic sectors offered by the circular economy. Without a doubt, oil and gas will be here for many decades to come. But there can also be no question that climate change is among the most significant challenges facing humanity.”
Nasser also shared Saudi Aramco’s achievement in carbon intensity which is among the lowest globally at 10 kilograms of CO2 equivalent per barrel of oil equivalent, as well as the Company’s methane gas intensity of 0.06 percent, one of the lowest levels in the industry.
He also highlighted some of Saudi Aramco’s other achievements in this area, including higher-mileage and lower-carbon integrated engine-fuel systems; carbon-free hydrogen fuel; and Carbon Capture, Utilization & Storage (CCUS). - TradeArabia News Service