Energy Transition

Lara Sidawi Moore addressing the conference. (Image source: Energy Intelligence)

The geopolitics and energy transition nexus was the focus of the Energy Intelligence Forum which took place from 25-27 November in London

The Forum provided a platform for energy leaders to debate and shape sustainable solutions to the energy challenges of the 21st century and explore collaborative solutions for industrial decarbonisation. Energy leaders explored the potential impact of industrial policy, geopolitical competition, and Trump’s election on these industries.

The event highlighted the urgent need for innovation in carbon removal technologies to mitigate rising greenhouse gas emissions. Temperatures will rise by 1.5°C in the next 10 to 15 years, according to Dr. Hoesung Lee, the sixth chair of the Intergovernmental Panel on Climate Change (IPCC) and winner of Energy Intelligence’s Energy Economist of the Year. “Global emissions must peak by 2025, but this won’t happen.”

Efforts to decarbonise the industry were a key focus, with hydrogen, electrification, carbon capture, and nuclear are all competing to be the top solution for energy-intensive sectors like steel, chemicals, shipping, and aviation. According to Anne-Laure de Chammard, executive board member at Siemens Energy, there is a still a long way to go on this front. “Sectors with clear targets and incentives are progressing faster than those without clear signals,” she noted, adding that small modular reactors can play a key, timely, role to provide electricity for the expanding demand of data centres around the world. “You can build one in roughly one year.”

BP Plc CEO Murray Auchincloss was hopeful that that onshore wind developments in the US could be accelerated, following promises from the President-Elect to curb regulations.

“We think it [the Trump presidency] is a strong chance to help the US get back to putting construction forward, getting regulatory reform in place, and getting faster permitting and really allowing construction to move forward. That's what we're most hopeful for, because the US has been struggling in that space,” Auchincloss commented.

Darren Woods, chairman & CEO of ExxonMobil, was awarded Energy Intelligence’s 2024 Energy Executive of the Year for leadership in growth and innovation, including the acquisition of Texas-based oil and gas exploration and production company Pioneer, and advancements in carbon capture, hydrogen, and lithium.

TotalEnergies was awarded the 2024 Energy Innovation Award in recognition of its commitment to the energy transition, having invested over US$70bn in low-carbon initiatives since 2015 and ambitiously working to reduce Scope 1, 2, and 3 emissions.

Lara Sidawi Moore, deputy CEO and chairperson of the Executive Committee of Energy Intelligence commented, “Our choices now, we hope, will help to craft a unified framework to provide energy security, stability, and prosperity to future generations. We urgently need greater foresight, collaboration, and determination to help drive the world toward a more sustainable, resilient, and secure energy future.”

The new company will have an initial focus on developing three core platforms with a value of over US$80bn. (Image source: ADNOC)

ADNOC has launched XRG, an international lower-carbon energy and chemicals investment company, which will start operations in Q1 2025 with an initial focus on developing three core platforms with a value of over US$80bn

XRG’s Global Chemicals platform will produce chemical and specialty products; its International Gas platform will build an integrated gas portfolio to help meet the anticipated increase in gas and LNG demand, while its Low Carbon Energies platform will invest in the solutions needed to meet increasing demand for low carbon energies and decarbonisation technologies. ADNOC envisages that the demand for these products will be driven by three megatrends: the transformation of energy, exponential growth of AI, and the rise of emerging economies, which could see XRG doubling its asset value over the next decade.

Dr Sultan Ahmed Al Jaber, ADNOC managing director and Group CEO, said, “Building on our unrivalled track record in energy and investments, network of global partners, and strategic market access, XRG will drive sustainable economic growth, foster technological innovation, and deliver the energy and products needed to improve lives around the world. We are committed to delivering long-term value for our stakeholders and reinforcing Abu Dhabi and the UAE’s role as a global energy and chemicals leader.’’

The establishment of the new companywas approved by President His Highness Sheikh Mohamed bin Zayed Al Nahyan at the annual meeting of the ADNOC Board of Directors.

Liv A. Hovem from DNV’s Executive Committee hands the Site Feasibility Certificate to Hanan Balalaa, ADNOC senior vice president for New Energies. (Image source: DNV)

DNV has certified the feasibility of ADNOC’s West Aquifer CO2 storage site in the UAE, the first site it has certified in the Middle East

It covers the initial subsurface assessments of the Simsima and UAE saline reservoirs, and signifies that the site is equipped for safe and effective CO2 storage.

The West Aquifer project is part of ADNOC’s efforts to scale up CCS deployment, which are central to its decarbonisation strategy. ADNOC is seeking to expand CCS capacity to 10 mn tonnes per annum by 2030 with the aim of reducing industrial CO2 emissions, in line with the UAE’s net zero goals.

Santiago Blanco, executive vice rresident & regional director Southern Europe, Middle East, Latin America and Africa, Energy Systems at DNV, commented, “Certifying the West Aquifer CO2 storage site is an important milestone, not just for ADNOC but for the region’s commitment to addressing climate challenges. This project serves as a tangible step toward meeting the UAE’s Net Zero goals and highlights the vital role that CCS will play in shaping a sustainable energy future.”

Hanan Balalaa, ADNOC senior vice president for New Energies, said: “The certification of ADNOC’s West Aquifer site by DNV builds on our track record of successful deployment of carbon capture across Abu Dhabi and our global leadership in this critical decarbonisation solution. We will continue to work with our partners and customers to develop and scale up this technology.”

The collaboration aims to accelerate the deployment of carbon capture technology in hard-to-abate industries. (Image source: Celeros Flow Technology)

Celeros Flow Technology (Celeros FT) and Carbon Clean signed a partnership agreement at ADIPEC to accelerate the deployment of carbon capture technology in hard-to-abate industries

Under the partnership agreement, both companies will collaborate to develop industrial-scale carbon capture solutions. It will see Celeros FT combining its application knowledge and technical engineering pedigree with Carbon Clean’s specialist expertise in carbon capture solutions, specifically Carbon Clean’s patented Cyclone CC technology, which is columnless, compact and modular, delivering high performance while significantly reducing the cost of carbon capture compared to conventional solutions.

Celeros FT, which provides engineering and fabrication services based on more than 140 years of experience, will leverage its extensive sales and aftermarket support network to support the decarbonisation goals of existing and new customers.

The agreement represents further progress towards Celeros FT’s ambition to become a full chain supplier to the Carbon Capture and Storage (CCS) sector and adds industrial carbon capture technology to its portfolio of specialist CO2 transportation pumps and injection pumps for storage.

Jose Larios, CEO & president, Celeros FT said, “Celeros Flow Technology recognises the challenges that the energy transition raises for customers. This partnership further underlines our commitment to developing fully customised lifecycle solutions that respond to the diverse process challenges of transitioning from fossil fuels to renewable resources. We are excited by the prospect of working collaboratively with Carbon Clean to deliver modular, compact, and scalable solutions for carbon capture across our chosen markets.”

Aniruddha Sharma, chair and CEO, Carbon Clean, commented, “Our fully modular, columnless technology will transform the industrial carbon capture sector – solving the longstanding cost and space barriers. The Carbon Clean team have delivered a breakthrough and we are excited to partner with Celeros Flow Technology for manufacturing and fabrication. This partnership will play a significant role in accelerating the number of deployed units, enabling CycloneCC technology to be fully commercialised and rolled out at scale.”