Innovation in the oil and gas sector aims for significant decarbonization

Macaw Energies, a subsidiary of Golar LNG, is making notable strides in the fight against climate change with its innovative F2X technology. A recent report from SUEZ Consulting confirmed that this solution can reduce flare gas emissions by more than 50%, marking substantial progress for the oil and gas industry.

Impactful reduction of emissions

The F2X solution was developed to capture and convert gas that would normally be burned and released into the atmosphere into liquid gas, an approach that not only protects the environment but also offers an economic return. The SUEZ Consulting study reveals that, in a typical production operation that burns around 24.000 m³ of gas daily, the adoption of F2X can reduce emissions by 55%, avoiding the release of more than 20.000 tons of CO2 equivalent per year.

Furthermore, by replacing the use of diesel in drilling operations, which generates around 59 tonnes of additional CO2e daily, F2X technology further reduces the carbon footprint of operations. This represents a significant advance in reducing emissions SCOPE 1, which are directly generated by the company's activities.

Technological advancement and sustainability

Slim Hbaieb, CEO of Macaw Energies, highlighted the importance of this innovation for the sector. “Our F2X technology not only demonstrates our commitment to innovation, but also presents a scalable solution to one of the industry’s most critical challenges,” he said. This technology not only meets the objective of reducing emissions, but also has the potential to generate carbon credits and financial incentives for companies that adopt it, aligning economic interests with environmental sustainability.

The global commitment to reducing emissions was reinforced at COP28, where 52 leaders from the oil and gas sector committed to eliminating the practice of gas flaring by 2030, a goal that aligns the sector with the international efforts of organizations such as the Bank World and the UN. Macaw Energies' F2X technology is a vital tool in achieving these goals, providing a viable and efficient path to decarbonisation large-scale oil and gas operations.

This development not only positions Macaw Energies as a leader in environmental responsibility in the energy sector, but also reinforces the importance of technological innovations in solving global environmental problems, contributing to a more sustainable future.

Source: FSB Communication: Graziella Cardeal.