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Tariq Siddiqui's picture
COO Upstream EP Advisors LLC

Oil & Energy | Business Development | Capital Projects | Offshore Wind -  Proven leader in offshore development and operations, with 25+ years’ expertise in managing business through cycles...

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  • Oct 18, 2021
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Houston-based Apache Corp., one of the biggest natural gas producers in the Permian Basin, has ended routine flaring across its Lower 48 operations three months ahead of schedule.

Energy Transition Gaining Traction in Oil & Gas Patch

  1. The Asian buyers are increasingly seeking clean energy source including low carbon LNG
  2. The players that can provide premium low carbon products have a definite competitive advantage
  3. Earlier, Permian had taken a flack for unchecked rise in methane leakages and high carbon footprint
  4. Reducing emissions by eliminating flaring, closing Co2 vents and detecting and eliminating methane leaks is a low hanging fruit.
  5. The Project Canary has snapped several upstream E&P companies to benefit from reduced emissions using their technology

BOTTOMLINE

Natural gas provides redundancy to intermittency in renewables. The companies are increasing their weightage of gas in their portfolios. Apache's portfolio is 40% gas-weighted, 32% oil and 28% liquids. Apache fetched $4.00/MMBtu-plus for its Permian gas during 2Q2021. Responsible production of natural gas is a key step towards natural gas value proposition as transition fuel. Eliminating flaring is the first step.

 

 

 

 

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    Matt Chester's picture
    Matt Chester on Oct 18, 2021

    I wonder how much the various techs you read about that can detect and report methane emissions (either internally to track those losses or externally for pressure/accountabilitY) are leading to these real changes?

    Tariq Siddiqui's picture
    Tariq Siddiqui on Oct 19, 2021

    There are two separate issues playing here in Emissions Reduction ( Emissions Efficiency) category:

    1-CO2 reduction from Gas flaring is relatively easy to quantify; operator simply stops flaring the gas, by  utilizing.

     

     

    2-CO2 Vents also can be quantified by simply closing them. The CO2 is either eliminated through efficient process or disposing it off.

     

    3- Methane Leakages require measurements, various technologies exist ( long list) for both onshore and offshore. Offshore is more expensive and challenging. 
     

    All 3rd party companies that verify emissions for compliance and low emission certification need some sort emission measurement method and also baseline surveys to compare and verify emissions.

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