Page 16 - NorthAmOil Week 42

NorthAmOil ENERGY TRANSITION NorthAmOil

ConocoPhillips sets net zero emissions goal

US CONOCOPHILLIPS, the largest independent reducing the GHG emissions intensity of its
US oil and gas producer, has unveiled a goal of operations to 35-45% by 2030, from an earlier
net zero greenhouse gas (GHG) emissions from goal of 5-15% as it targets the net zero figure in
its operations by 2050. The company is follow- the longer term. It said it would implement con-
ing in the footsteps of European majors who have tinuous methane monitoring at its operations,
set similar goals, and is simultaneously forging with a focus on the larger facilities in the Lower
ahead of other large US producers, who have 48 states.
been slower to embrace the energy transition. “As an exploration and production company,
ConocoPhillips’ ConocoPhillips’ goal covers direct and indi- we recognise three significant issues facing our
operations in Alaska rect emissions from its own operations – known sector,” stated ConocoPhillips’ CEO, Ryan
could be affected by its as Scope 1 and Scope 2 respectively. The target Lance. “First, the world is increasingly demand-
shift towards projects does not include emissions by customers burn- ing global action to address climate change.
with lower breakeven ing or processing the company’s products, which Second, we need to play a part in sustainably
points. represent about 80% of fossil fuel pollution and helping meet global energy demand. And third,
are known as Scope 3 emissions. This makes we must do both while delivering competitive
ConocoPhillips’ plan less ambitious than those returns.”
of UK-listed Royal Dutch Shell and BP, which are This comes as ConocoPhillips is in the
both seeking to reduce Scope 3 emissions. None- process of acquiring shale producer Concho
theless, ConocoPhillips acknowledged the issue Resources. However, the company said that after
of Scope 3 emissions in its statement, and said it that transaction closes, it will restrict drilling
would advocate for a US carbon price to address capital to projects that will turn a profit even if
this category of emissions through its member- crude is trading below $40 per barrel. Affected
ship of the Climate Leadership Council. operations could include ConocoPhillips’ assets
The company has revised its target for in Alaska.™

Merit SI completes solar plant for

Enbridge compressor station

NEW JERSEY HOUSTON-BASED sustainable infrastructure zero-emission energy, or more than 1,750 MW
company Merit SI announced last week that it on a net basis.
had completed construction on a solar power Merit SI’s CEO, Tom Kuster, described
plant that will directly help power a compressor Enbridge as being “at the forefront of integrating
station on a natural gas pipeline. The project is the renewable energy infrastructure into its existing
first of its kind in the US and will serve the Lam- pipeline network”.
bertville compressor station, which is operated by This comes as the company continues efforts
Enbridge subsidiary Texas Eastern Transmission. to advance major oil and gas projects, such as
The 2.25-MW project is located in West the Line 3 replacement project, which will boost
Amwell Township, New Jersey. It is expected heavy oil capacity from Western Canada to the
to reduce the compressor station’s associated US. Indeed, Enbridge achieved another legal vic-
greenhouse gas (GHG) emissions by 58,500 tory last week when an administrative law judge
tonnes over its operating life and “unburden” the ruled that Minnesota regulators had properly
electric transmission grid during periods of high considered the construction impacts of the Line
demand, according to Merit SI. 3 replacement.
“Powering our compressor stations in part The Minnesota Pollution Control Agency
with behind-the-meter solar helps us manage (MPCA) still needs to decide whether to issue
electricity costs and improve our environmental final water-quality permits for the Line 3 replace-
performance. Additionally, these projects bring ment by mid-November.
incremental economic development into the However, Enbridge is increasingly trying to
communities we serve,” said Enbridge’s director balance its traditional oil and gas projects with
of market innovation, Caitlin Tessin. ventures geared towards the energy transition, as
Indeed, Enbridge is involved in a broader illustrated by the solar-powered compressor sta-
shift towards renewables. The company’s oper- tion. Earlier this month, it was also reported that
ating and under-construction renewable energy the company was moving forward with a renew-
projects across North America and Europe have able natural gas (RNG) scheme in the Canadian
the capacity to generate roughly 4,600 MW of province of Ontario.™

P16 www. NEWSBASE .com Week 42 22•October•2020