In my newsletter last week, I analyzed Greenpeace Canada's report on Shell's Quest CCS Facility to determine how sustainable this facility is and what the future holds for carbon capture and renewable energy technology in the oil and gas industry.
Below are a few of the key points I touched on:
- Greenpeace Canada reported recently that Shell has an agreement with the Alberta government for its Quest CCS (carbon capture and storage) facility where it receives carbon credits in turn for a reduction in greenhouse gas emissions
-The only thing is that these greenhouse gas emissions apparently never happened, and the company generated $406 million in revenue (50% of which came from these carbon credits)
- In order to meaningfully reduce greenhouse gas emissions in the oil and gas industry, I believe the carbon pricing system needs to be economically viable and provide certainty for oil and gas producers that are undertaking these capital-intensive projects
-Despite Greenpeace Canada’s report on Shell and how the Canadian oil and gas industry needs to do more to reduce greenhouse gas emissions, I believe current and future CCS, CCUS, and renewable energy projects, including the Quest CCS facility, can help with the progress made so far, without needing oil and gas producers to significantly decrease oil and gas production
Click the link below to read my full analysis!
https://lnkd.in/gwbQS7RS
Assistant Control Room Operator
2moWell done