Oz Santos Sets 2040 Net-Zero Target
Australian oil and gas explorer Santos on December 1 said it had set a goal to become a net-zero emitter by 2040.
The company is looking to bring down its scope 1 and 2 emissions by 26-30% by 2030, versus a 2020 baseline, and it also plans to actively work with customers to reduce their scope 1 and 2 emissions by more than 1mn metric tons/year within the next decade, through switching to cleaner fuels.
"Our focus over the last three years on step change technologies such as carbon capture and storage has enabled a pathway that allows us to go further faster when it comes to emissions reduction," Santos CEO Kevin Gallagher said. "The world still relies on hydrocarbon fuels for 80% of its primary energy, the same as 45 years ago, so to achieve global emissions reduction goals it is vital that companies like Santos focus on making these fuels cleaner and eventually zero emissions.”
"In our own operations Santos has installed more than 5.5 MW of solar electricity and 4-MWh of battery storage but the real game-changer to reduce our emissions is the Moomba CCS project," he added.
Santos in October injected approximately 100 mt of CO2 into depleted gas reservoirs as part of the final field trial for the Moomba carbon capture and storage (CCS) project. The scheme aims to capture 1.7mn metric tons/year of CO2 currently released at the Moomba gas processing plant, and then re-inject it into underground reservoirs.