Displaying items by tag: SPE Offshore Europe 2021
New industry alliance warns immediate action required to fix net zero technology funding to avoid missing UK's 2050 target
Gaps in Net Zero Technology Funding System to be Spotlighted at SPE Offshore Europe
An alliance of industry leading energy experts is to use SPE Offshore Europe (7-10 September 2021) to call for a drastic culture change between government, financial institutions, technology providers and the private sector to close gaps in the funding system for the novel technologies needed for the UK to achieve net zero emissions by 2050.
FTech2Zero, which includes Siemens Energy, Wood, Net Zero Technology Centre, Deja Blue Consulting, Strategic Growth Services and the Energy Industries Council, contend that increased capital flows are not reaching the nascent technologies necessary to achieve the UK’s net zero goal due to disconnects between developers, financial institutions, end-user operators and government.
SPE Offshore Europe 2019, P&J Live, Aberdeen
The group is to present ‘Financing Net Zero: Addressing Technology Risk for Financial Investments in the Energy Transition’ at the SPE Offshore Europe virtual conference on Friday 10th September. A white paper is being prepared for launch during COP26 in Glasgow in November.
The group surveyed more than 120 operators, service companies, technology companies, consultancies, and technology investment specialists and held several roundtables to test the survey data and core hypotheses.
Keiren Lake, Business Development at Siemens Energy said on behalf of FTech2Zero: “Ambitions to achieve net zero goals by 2050 with the same approach that government, investors and the private sector have adopted so far, will almost certainly fail. We have identified several challenges in financing novel net zero technologies that sit across the value chain. There is a disconnect on how all the parties view the approach to project development and risk mitigation and drastic culture change is needed to turn this around and to re-frame investment discussions.
“To remain on track with Net Zero 2050 targets, a much more encompassing approach is required where government, finance and industry work together to establish a new multi-stakeholder financing framework where risks can be both fully understood and appropriately shared.”
FTech2Zero is comprised of nine companies and industry organisations: ACL Impact, Deja Blue Consulting, The Energy Industries Council, EnergyKnect, Net Zero Technology Centre, Portland Advisers, Siemens Energy, Strategic Growth Services and Wood.
Energy transition topics will feature prominently at the SPE Offshore Europe 2021 virtual conference under the event theme ‘Oil & Gas: Working Together for a Net Zero Future’.
The virtual conference programme will begin each day at 12 noon (BST) / 7.00am (EDT) to accommodate international participants. Full programme details and registration can be found here.
ENERGY TRANSITION TO TAKE CENTRE STAGE AT SPE OFFSHORE EUROPE VIRTUAL CONFERENCE
Energy transition topics will take centre stage at the SPE Offshore Europe 2021 virtual conference taking place from 7-10 September 2021.
SPE Offshore Europe 2021 conference chair and executive vice president oilfield equipment at Baker Hughes, Neil Saunders and SPE President 2022 Kamel Ben-Naceur will welcome delegates to the 4 day, SPE-curated programme comprising of an opening plenary, 10 keynote, and 14 technical sessions incorporating more than 50 technical papers. 7 of the 10 keynote sessions and 50% of the technical programme will be related to energy transition subjects.
Keynote sessions with a net zero focus include: Delivering carbon capture, utilisation and storage; CCUS and hydrogen at scale; energy islands; roadmaps to net zero; scaling up digital to enable a low-carbon industry; facilities of the future and breaking the silo paralysis.
During the opening plenary, Chris Stark, CEO of the Committee on Climate Change will join Gordon Birrell, Executive Vice President, Production & Operations at bp; Al Cook, Executive Vice President, Development & Production International at Equinor and Phil Kirk, CEO of Harbour Energy for a panel session on the event theme ‘Oil & Gas: Working Together for a Net Zero Future’.
For the first time in the history of the biennial event, due to the coronavirus pandemic, the conference and exhibition have been split. The virtual conference will be followed by the in-person exhibition across 1-4 February 2022, which will include new keynote conference content that will be developed after the UN Climate Change Conference (COP26) taking place in Glasgow 1-12 November 2021.
With the two SPE Offshore Europe events ‘bookending’ COP26, oil and gas industry leaders, innovators and decision-makers will reconvene in person at the P&J Live in Aberdeen to advance the energy transition outcomes and realign strategies.
Neil Saunders, SPE Offshore Europe 2021 conference chair and executive vice president oilfield equipment at Baker Hughes said: “The conference programme at SPE Offshore Europe has always been a ‘must-attend’ event for those wanting to keep in touch with industry-leading thinking strategically and at a technical level. The industry’s path to decarbonisation and role in supporting net zero is top of the agenda this year, and with COP26 just seven weeks later, the programme promises to be a real curtain-opener.
“The future of oil and gas in the energy mix is in our hands and SPE Offshore Europe gives us the chance to work together, before and after COP26, to secure our place in a net zero future.”
Kevin Gallagher, SPE Offshore Europe 2021 technical committee chair and digital transformation lead, CNOOC International commented: “The offshore industry has an important role to play in the transition to the low carbon economy. The timing of the conference, prior to COP26, and content of the technical programme are both opportune and highly relevant as we experience an acceleration of the energy transition and the industry response. Audience members will have the opportunity to join high quality sessions ranging from decarbonisation, floating wind and hydrogen to drilling and decommissioning. We look forward to informative and inspiring technical sessions which prompt numerous important discussions at this pivotal time for our industry.”
The virtual conference programme will begin each day at 12 noon (BST) / 7.00am (EDT) to accommodate international participants. Full programme details and registration can be found here.