Page 171 - CW E-Magazine (7-5-2024)

Special Report Special Report

Reaching a grand alliance in energy plateaued or even begun to decrease in in providing an enabling environment sition. With technology, there is always
recent years. Technology has played a is essential – but there are dangerous a new and better way of doing things.
he United Nations, in the Emis- Climate Change (IPCC) states that the RON BECK central role in accelerating the energy consequences that can come from the The infrastructure used for oil and gas
sions Gap Report 2022, has largest share and growth in gross GHG Senior Solutions Director transition, as it improves the effi ciency enactment of certain policies. activities can play an important role in
Twarned the international com- emissions occur in CO from fossil Aspen Technology Inc. of operations and reduces the carbon the deployment of green technologies,
2
munity it is falling far short of the fuels combustion and industrial pro- footprint of conventional fuels, while In particular, the excessive use of including carbon capture and storage
Paris Agreement goal of limiting global cesses, followed by methane. Lowering DR. CAROLE NAKHLE supporting the deployment of green subsidies for green energy techno- (CCS) and offshore wind power. The
warning to 1.5°C this century. To save GHG emissions will require a signifi - CEO, Crystol Energy energy. Digital technologies – the Inter- logies has raised several concerns. Be- industry also has the capital to fund
the planet from an imminent climate cant curtailing of the demand for fossil basic needs, and its cost represents a net of Things (IoT), mobility and cloud cause poorer countries lack the funds to green projects and the know-how to
crisis, responses from governments fuels – i.e., oil, natural gas and coal. large share of the expenditures of many technologies, machine learning and subsidise green technology, the drain execute them.
need to commensurate with calls for households. High fuel prices may there- artifi cial intelligence (AI) in particular – on their capital reserves raises another
concrete and immediate actions. The world’s primary energy mix fore trigger undesirable political re- are transforming the way the world important aspect of the energy transfor- Saudi Arabia, the world’s largest oil
continues to be dominated by fossil actions. Second, inter-fuel substitution produces and consumes energy. mation, that of a just energy transition. exporter, is building the world’s larg-
Following which, subsequent nego- fuels, which provide 82% of global cannot happen immediately unless the est plant to produce green hydrogen at
tiations at COP 28 resulted in more energy used, with 7%, 4% and 7% coming technology and infrastructure for the In a 2022 report, the IPCC argues The World Energy Council (WEC) scale. The industry also has skills that
than 200 nations signing an agreement respectively from hydropower, nuclear reliable production, storage, and use of that such technologies can contribute publishes the energy trilemma index, can be deployed to support a rapidly
towards an accelerated energy transi- and modern renewable energy. Oil con- renewable energy is readily available, to the mitigation of climate change and which ranks countries in terms of growing green sector. The world’s larg-
tion. The path forward includes tripling tinues to be the most-used fuel, and including global expansion of electric the achievement of several sustainable progress on three competing demands: est national oil companies are diverting
global renewable capacity and doubling consumption of all fossil fuels contin- grids. Hence, maintaining investment development goals (SDGs). The report energy security, equity and environmental substantial revenues from their tradi-
energy effi ciency by 2030. ues to grow, as outlined by the Energy in all sources of energy to meet existing cites AI as improving energy manage- sustainability. The countries that have tional business to fund green projects.
Institute (2023). demand remains key to ensuring future ment in all sectors, increasing energy achieved the best performance on those
A massive transformation reliable supplies. effi ciency and promoting the adoption three criteria are rich countries, whereas It is hard to imagine meaningful
The world needs to reduce green- Affordability and reliability of many low-emission technologies, poorer countries typically score lower. progress without collaboration and
house gases (GHG) by unprecedented Energy security has always been While volatility in prices has including decentralised renewable Poorer countries, however, are often cooperation between various stakeholders
volumes and at unparalleled speed, an important pillar of energy policy always been a feature of fossil fuel energy. Digital technologies to support rich in hydrocarbon resources, as well everywhere in the world. Former British
which is achievable only through a among net importers. The Inter- markets, the energy crisis of 2022 has decarbonisation are now reaching the as various metals and minerals needed Prime Minister Winston Churchill once
large-scale, rapid and systematic trans- national Energy Agency (IEA) states also shown that fossil fuels can respond phase of industrial scaling, which will for the energy transition. In those coun- described the alliance between Great
formation. According to UN Environ- that long-term energy security mainly to that volatility rather swiftly. This is require partnerships for further deve- tries, people have complained about Britain, the United States and the Soviet
ment Programme, to hold global warm- concerns timely investments to sup- a key capability that is not currently lopment. For instance, Europe’s SARAS what they described as “climate colo- Union as the “Grand Alliance”, which
ing to 1.5°C, emissions must fall by ply energy, in line with economic available with green energy, such as refi ning group has partnered Aspen- nialism”, which can negatively affect was key to victory in World War II.
45% from those forecast under current and environmental needs. Short-term solar or wind. Tech to deploy an advanced emissions support for and the speed of the global
policies by 2030. Even to reach the 2°C energy security focuses on the ability of management solution to closely track energy transition. Today, the climate crisis has far-
target, a 30% cut is needed. the energy system to react promptly to Climate goals and reduce emissions and improve reaching consequences that will affect
sudden changes in the supply-demand Despite recent setbacks, progress ability to monetize carbon emissions A grand alliance generations to come. Averting it requires
The Intergovernmental Panel on balance. Energy enables people to meet has been made on the climate front. credits. Nissan Chemicals is employ- The oil and gas industry has an another Grand Alliance between various
Investment in renewable energy conti- ing industrial AI software from Aspen- important role to play in enhancing energy stakeholders around the world. It
nues, governments are not cancelling Tech to operate ammonia production security by ensuring reliable supplies, requires a unity of purpose between
climate targets and companies are adopting plants with steam methane reforming as well as accelerating the energy tran- security, affordability and sustainability.
measures to reduce their carbon foot- better, reducing steam and energy use ABOUT THE AUTHORS
prints. Carbon markets emerging in by several percent. Saudi Aramco and
geographies, such as Indonesia, are already AspenTech are collaborating to intro- Ron Beck is Sr. Industry Marketing Director, Aspen Tech-
creating market incentives in those loca- duce a generative AI-based solution to nology Inc. He has over 30 years’ experience in providing soft-
tions. A similar economic phenomenon strategically plan for decarbonisation ware solutions to the process industries and 15 years’ experi-
is already happening with purchases of of assets. ence in chemical engineering technology commercialisation.
carbon credits in major carbon removal He can be contacted at: ron.beck@aspentech.com
processes, such as the Bison Project in A balanced energy transition Dr. Carole Nakhle is the Founder and CEO of Crystol
the US, by the major cloud data centre GreenTech and energy transition Energy. She is an international authority on global energy
companies and airlines. approaches require the right regula- issues, in particular in the fi elds of policy, fi nance, market
tory and market framework, as well
While emissions have grown world- as the necessary funding, to fl ourish. development, governance, energy taxes and fi scal regimes as
well as geopolitics.
wide, for many countries, rates have In this respect, the government’s role

170 Chemical Weekly May 7, 2024 Chemical Weekly May 7, 2024 171

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