Ahead of the United Nations Climate Change Conference COP28, the role of CCS in energy transition is widely discussed. The German E&P company Wintershall Dea, which is currently in the process of becoming a Europe’s leading gas and carbon management company, has stakes in major CCS projects in the North Sea.
With the world working towards achieving a carbon-free future, Egypt leads the African continent’s efforts to realize a just and realistic energy transition that shall guarantee a sustainable economic growth for the African countries. Egypt Oil and Gas sits with Minister of Petroleum and Mineral Resources Tarek El Molla to discuss Egypt’s decarbonization strategy and the steps that the country has taken to meet the objectives of The Paris Agreement.
As an organization that prioritizes merits over gender identity, Wintershall Dea has been powered the momentum behind women’s inclusion in the workforce for years, working to break the barriers of gender exclusivity and pave the way for a more inclusive and tolerant future.
Egypt Oil & Gas CEO and Founder Mohamed Fouad meets with one of the energy sector’s leading women Iman Hill, CEO of the International Association of Oil & Gas Producers (IOGP), to get a deeper insight into where the industry is heading and what hot opportunities are in store for Egypt.
We take pride in being the global market leader in the production and supply of methanol to major international markets. To maintain our leadership position, we focus on creating value through the global production, marketing and delivery of methanol to customers supporting both traditional and energy-related markets. We also focus on maintaining a low-cost structure as an important competitive advantage in a commodity industry - as well as operational excellence across all aspects of our business, from manufacturing and supply chain processes to corporate governance practices and financial management. Our strategically positioned production sites in every major market enable our team to quickly adapt and respond to our customers' needs.
An unprecedented collaboration between industry, consumers, and governments is vital if the world is to meet the more ambitious goal of the UN Paris Agreement and limit global warming to 1.5°C.
Despite only contributing less than 3% towards the world’s greenhouse gas emissions, global actors continue to call for Africa to abandon its oil and gas resources. While we recognize the impacts of climate change – Africa actually faces some of the harshest impacts – abandoning oil and gas is not the solution to reducing emissions. Rather, oil and gas producers have a critical role to play through the adoption of sustainable practices. Going forward, as Africa continues to maximize its hydrocarbon resources in pursuit of alleviating energy poverty and industrializing the continent, priority will be placed on sustainability and environmental protection, so that the energy transition is just while economic growth is accelerated.
We are also working on measures to maximize the utilization of energy resources through the rationalization of consumption and rationalizing the use of energy through proper pricing, in addition to benefiting from technology to raise energy efficiency
raise energy efficiency
The O&G industry is a primary contributor to greenhouse gas (GHG) emissions, with an estimated 75% of all GHG emissions coming from the production and consumption of energy. For upstream O&G, the bulk (~6%) of global GHG emissions come directly from fugitive emissions and flaring, of which methane (CH4) is the primary constituent. Since hydrocarbons will remain an important, low cost and dominant part of the global energy mix for years to come, it is incumbent on the industry to adopt new technologies & workflows to decarbonize and produce oil & gas more sustainably. ‘Zero Flare’ is just one key example of decarbonization, for which Egypt is a leader and visionary country.
Egypt is working, through a national strategy, to confront climate change and reduce emissions. Decarbonization and transition to low-carbon energy sources are core elements of this strategy. Hence comes the role of MoPMR to support this strategy through several projects and initiatives.
