Multinational integrated oil and gas company, Total Exploration and Production Limited, has disclosed that it would be targeting net-zero carbon emission in production by the year 2050.
It explained that the move had become imperative in showing the company’s unshaken focus as a responsible energy major entity committed by helping in mitigating global warming and protecting the ozone layer.
Total Managing Director, Mike Sangster, said that the oil company has identified some key initiatives such as promoting the use of natural gas, biogas, and hydrogen in meeting the targeted plan.
He listed the initiatives to include investing in low carbon electricity mainly from renewables, low-cost oil, and biofuels, carbon sinks that are essential to achieving carbon neutrality among others.
Speaking on Tuesday during the virtual Nigeria Energy Industry Transformation Summit (NEITS) themed “Challenging global energy landscape: Strategies for industry sustainability”, and organised by the Society of Petroleum Engineers (SPE), Sangster noted that he was convinced you that the company was strongly positioning for sustainability and that the company would apply the approach in Nigeria as well with a focus on gas and low cost oil.
“At the group level, Total’s ambition is to become the responsible energy major and to get to Net Zero carbon emissions by 2050.
“This consists of three major steps: Net Zero on Operations by 2050 or sooner (scope 1+2), Net Zero in Europe by 2050 or sooner (scope 1+2+3), 60% or more Net Carbon Intensity reduction by 2050 (scope 1+2+3),” he said
He added that total remained keen to continue to invest in Nigeria and to contribute constructively to ongoing debate about the Petroleum Industry Bill (PIB).
“We welcome the efforts being made by the authorities to define a long-term framework for the Oil and Gas industry that provides clarity and certainty. But it must also provide attractive terms and a win/win solution for the country and investors in order to entice sufficient capital in an ever more competitive world.
“A progressive, win/win, PIB could be the catalyst needed for a new wave of investment in Nigeria instead of other countries and hence contribute to the sustainability of the Oil & Gas industry.
“It is my expectation that this summit will come up with ideas and implementable decisions that can guide both industry and government in repositioning Nigeria’s oil and gas industry for sustainability,” he added.
Commenting on energy transition, Sangster said that the company would continue to strike balance between enabling the energy transition by investing in new energies such as solar and wind power and continuing to provide oil and gas to meet the needs of customers and society.
He said that the oil company wanted to be part of the solution to climate change with a commitment to delivering affordable and clean energy to the population.
“We have made important investments locally in this area and implemented several initiatives that are already impacting the Nigerian energy landscape positively. Some of these include: over 1.5 million people in Nigeria have been impacted from sale of 400,000 Total solar lamps since 2013 according to Global LightingOff-grid Association estimates.
“Worldwide, 10 million people have been impacted. Out of our 577 service stations across the country, more than 77 have been solarised as at the end of January 2020. It’s an ongoing programme and our target is to ensure that our stations all become solarised. We have also deployed over 150 residential solar solutions across the country. Our investment in the NLNG from the beginning until now is partly derived from our commitment to the production of cleaner and better energy,” he said.