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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...

  • Member since 2021
  • 127 items added with 84,316 views
  • Mar 15, 2021
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GAME-CHANGER TECHNOLOGY: There is a R&D effort going in in-situ Hydrogen production from hydrocarbon reservoirs and in-situ Carbon Capture and Sequestration (CCS) which could be a game-changer for hydrocarbon industry, climate change and production of clean energy. The process and research is in embryonic stage; not commercial yet, but it could be a pathway, to large scale hydrogen production and in-situ CCS, offering greatest reduction cost, which is the biggest barriers to commercial adoption of CCS.

Significant investment in R&D and participation of oil companies is needed to advance this breakthrough technology. Hydrocarbon assets; especially like Canadian heavy oil and tar-sands are likely to be 'permanently stranded,' given the climate and regulatory pressures, low oil prices, high cost of CCS ($90 -$230/tonne) and carbon tax ($50/tonne). If indeed oil prices do go higher, companies would rather pay carbon tax with little or no incentives for sequestration, making Paris-target unachievable. Canadians, relying heavily on conventional, expensive capture technology, have already missed their targets several times. To date, there are only two CCS projects in Canada, and technology is still in demonstration phase.

KEY INSIGHTS

  • The new process, produces pure green hydrogen fin-situ from hydrocarbons suitable for fuel-cells
  • Process relies on established technologies (SMR, ISG and SPM)
  • Eliminates CO2 and leaves it underground (In-situ sequestration)
  • Eliminates 'Stranded-Asset' threat to hydrocarbons
  • Can concurrently produce hydrocarbons during energy transition (if needed)
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