India’s oil and gas companies are focussing on initiatives such as green hydrogen and carbon capture, utilization and storage (CCUS) as they move towards achieving net-zero emission targets.
The companies are committing large investments towards energy transition, particularly in the renewable space, an oil ministry journal on net-zero plans has said.
The first-of-its kind report, which was released on August 25, list various steps being taken by these companies to reduce emissions and their carbon footprint.
India’s largest oil and gas explorer ONGC said the company is advancing in the field of CCUS with a capacity to sequester 2.21 million MT of CO2 emissions.
“This technology is vital for reducing the carbon intensity of industrial processes and achieving long-term sustainability targets,” the company said.
CCUS is a set of technologies that capture carbon dioxide and use it or store it safely to prevent it from contributing to climate change. These technologies can also remove existing CO2 from the atmosphere. There is debate over its feasibility, with critics saying it is too expensive to be viable.
In the Budget FY25, Finance minister Nirmala Sitharaman said the Centre planned to introduce a policy for hard-to-abate industries to nudge them towards lower emissions.
The decision comes as India plans to achieve net zero by 2070, while the oil and gas companies have pledged to attain the emission target much earlier.
India’s largest refiner Indian Oil said the company has collaborated with ReNew Power and L&T to venture into green hydrogen space.
“The company has also signed a binding agreement with L&T to enhance domestic electrolyser production capacity. The company is planning to set up a 10kTPA green hydrogen plant at Panipat. It is also working and conceptualizing capacities at other potential refinery locations for other such projects,” the company said in the report.
Green hydrogen is generated from electrolysis of water, with the entire process run on renewable energy.
Investments in renewable energy
The refiners plan to use renewable energy instead of brown power to reduce emissions.
Bharat Petroleum Corporation Limited (BPCL) said in addition to reducing emissions, renewable energy is also essential for electric boilers, green hydrogen and CCUS, all of which have significant power requirements.
“For refineries, an Inter-State Transmission System (ISTS) hybrid solution with 1.3 MW solar and 2.2 MW wind capacity per MW of power requirement has been devised to achieve 80-85 percent capacity utilisation,” it said.
Companies also plan to upskill employees to adapt new technologies.
“As a part of capability building to meet net-zero challenges, HPCL is sensitising its workforce on challenges and mitigation measures related to net-zero,” the company said.
It has developed training modules for different levels of its workforce, which includes participation in various related national and international seminars and workshops, the company said.
The information provided in the journal is in their personal capacities, the ministry said.
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