MANAGING CARBON EMISSIONS

Oil and Gas

Directly and indirectly, the oil and gas industry accounts for 42 percent of global carbon emissions. To reach net-zero targets, the oil and gas sector must reduce its emissions by at least 90 percent by 2050.

As net-zero initiatives become more widely adopted, the oil and gas refining sectors face increasing pressure to lower their carbon emissions. Increasing carbon capture, utilization, and storage (CCUS) in the oil and gas industry could capture and store about 40 million metric tons of CO₂per year. CCUS projects currently in development have the potential to further increase CCUS capacity by as much as 200 times by 2050. Carbon capture and storage can also be paired with hydrogen production to provide new decarbonization opportunities.

Contact us to learn more about how CGC can reduce emissions from the oil and gas sectors.