Imagine a future where the oil and gas industry becomes a key driver of sustainability. This vision is rapidly driving the integration of Carbon Capture and Storage (CCS) technology within the sector. On May 13, at the STATIC Arabia Expo 2024, Zest Associates Managing Director and UNDP's Chief Technical Advisor to the Saudi Arabian Ministry of Energy Jeffrey Beyer moderated the panel "Carbon Capture and Storage: Catalyzing a Sustainable Revolution in the Oil and Gas Sector".
Other panelists were:
Miniya Chatterji, who has focused on innovative solutions for sustainable growth through her leadership of Sustain Labs Paris and Carbon Capture Company. She brings experience in end-to-end implementation of carbon capture through projects in Dubai and India.
Mustafa Alkhabbaz, who works to advance low-carbon technologies with over 15 years of experience in energy and sustainability. He has worked on strategic roadmaps to capitalize on hydrogen and CCUS opportunities in the MENA region.
The discussion on CCS addressed some key questions that will continue to drive the implementation of the technology.
How can the GCC region ensure its competitive edge? Given its significant fossil fuel industry and ambitious sustainability targets, there is a lot to gain from a robust CCS framework. Organizations like Chatterji's Carbon Capture Company are already leading the way, and more can join if industry stakeholders have a clear roadmap.
What are the most important economic and safety concerns? CCS projects must scale up rapidly to meet global climate targets, but special care is warranted in fracked areas. CCS has buildout costs but can also create revenue streams from captured carbon.
Which carbon capture method(s) suit our needs? Post-combustion capture is versatile, pre-combustion capture is efficient, and oxy-fuel combustion is highly effective. However, all have associated costs and situational drawbacks.
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