RE: Comparisons converted to £8 Dec 2020 13:58
The UK emits 364 million tonnes of CO2 a year, with Chrysaor's own operations emitting just under one million tonnes. 90 percent of the carbon dioxide emitted from our operated assets is from gas turbines, used to power our offshore facilities, with a further 10 percent attributed to the flare. Our energy transition initiatives have already seen a reduction in emissions of nearly two percent over the last two years, but we are aiming for a 30 percent reduction in carbon emissions from our operated assets by 2025 with a further 20 percent by 2028.
What we are doing
We are approaching this challenge in three ways. We must produce our hydrocarbons in the most environmentally sustainable and efficient way we can. We must invest in low or zero carbon energy supplies to power our assets. We are investing in hydrogen production together with removing and offsetting emissions through carbon capture and storage (CCS). We are also looking at feasibility options to reduce our flaring levels and to measure our methane gas emissions using drones, with the goal of identifying and removing any fugitive emissions.
Acorn project
Our commitment to the energy transition is reflected in our investment in the Acorn CCS project. This North Sea-based solution is essential for meeting Scottish and UK government net-zero targets. Working with partners in the industry and with government, the first phase of Acorn is targeting storage of 340,000 tonnes of carbon a year from the St Fergus gas terminal. A second phase, with the production of 'blue' hydrogen, could see the capture and storage of much larger volumes;
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