Boost, sustain, orbit – the multi-stage launch of new energy

Abstract

What role do technology and innovation play in shaping our industry’s – and the world’s – path to net zero? They underpin, enable and connect each and every phase of it.

In the short and medium-term, technology will help decarbonise traditional energy production. Initially, to fix unnecessary emissions from oil and gas operations – methane and flaring, for example. The technology and innovation landscape around methane and flaring detection, measurement and abatement is incredibly dynamic and maturing fast. It has to be. The industry knows this is a low-hanging fruit that can realise significant global emissions reductions fast. Only with the help of technology – connecting brand-new physical technology with digital systems - can we do this at pace and scale. The goal must be the complete elimination of unnecessary methane and flaring emissions within the current decade. Like a booster rocket, the tech to achieve this will make itself obsolete.

In parallel, we’re using technology to shift the economic equation of oil and gas production and move towards ultra-low-carbon and carbon neutral energy. For example, with the use of AI and machine learning to enable autonomous operations will drive ever more energy and resource efficient production.

Both these approaches buy us time in the energy transition. But they also serve to develop and build the technology foundations for new energy by working with a different approach of technology ventures in hydrogen, stationary storage, carbon capture and sequestration, geothermal ... transferring skills, capabilities and infrastructure to give the energy industry of the future a flying start, in a new orbit.

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