Our forecasts show that without greater efforts to decarbonize, the world will miss the 2°C limit for global warming under the Paris Agreement. This is putting mounting pressure on the oil and gas industry to show action in the short term, as well as preparing in the longer term for an energy system that does not accept the release of carbon emissions.
'Actionable plans to reduce oil and gas emissions' narrows in on a systematic approach for the oil and gas industry to assess and select the most cost-effective measures to reduce emissions for each specific project, based on an evaluation of the cost and climate reduction potential of each measure. Reflecting the current focus of the industry, it addresses the measures available in the shorter term to reduce emissions from production and distribution (a quarter of the industry’s emissions), and shares examples from recent projects.
This complimentary whitepaper should be read as a follow up to DNV’s Oil and Gas Energy Transition Outlook 2020, which provides the wider context and discussion on decarbonizing the oil and gas industry.