• Natural Gas News

    Methane and CCS necessary for climate goals: former BP CEO

Summary

The goals outlined in the Paris climate agreement are out of reach without those two components, ex-BP chief Bob Dudley believes.

by: Daniel Graeber

Posted in:

Complimentary, NGW News Alert, Natural Gas & LNG News, Americas, Energy Transition, Hydrogen, Renewables, Political, Environment, Intergovernmental agreements, Infrastructure, Carbon Capture and Storage (CCS), News By Country, United States

Methane and CCS necessary for climate goals: former BP CEO

The goals outlined in the Paris climate accord cannot be reached without using methane as an alternative to coal, former BP CEO Bob Dudley said June 24.

Dudley is now the chairman of the Oil and Gas Climate Initiative (OGCI), an industry-led group aligned with the benchmarks set in the Paris climate agreement. Speaking on the energy transition with Daniel Yergin, the vice chairman of IHS Markit, Dudley said methane alongside carbon capture and storage (CCS) are necessary for a cleaner future.

Advertisement:

The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business.

ngc.co.tt

S&P 2023

“You can’t get to those goals without both of those,” he said from Washington DC.

Methane can be consumed as it is or steam reformed to produce blue hydrogen, with COemissions from the process captured and stored.

“You almost can’t get to the aims of the Paris Accords without the use of methane to displace coal out of the power system,” Dudley said.

Dudley’s posture at the OGCI is a stark reversal from his tenure at BP. At the helm in 2018, Dudley avoided making any funding pledges to invest directly in CCS, where CO2 is stored typically underground as an abatement scheme.

OGCI in 2016 set up a $1bn fund, backed nonetheless by BP and ten other majors, for climate action projects, including CCS.