An Oil and Gas Retrofitted Carbon Capture Utilisation and Storage Value Chain: A Green Industry

Abstract

Fossil fuel consumption continues to be crucial to industrialisation. It has continued to contribute to over 80% of the world’s total primary energy production for the past three decades. The primary cause of climate change, however, has been identified to be the rising greenhouse gases emission from the use of fossil fuels. Hence, a proposed solution to this is to switch to greener, lower-carbon energy sources. Despite growing concern over fossil fuel emissions, renewable or net-zero energy sources will not be able to replace or meet the total energy demand of the world even in the next few decades. This study therefore continues to promote the use of fossil fuel (especially natural gas) with carbon capture technology retrofitted throughout the entire value chain in order to decrease greenhouse gas emissions while still enjoying the benefits of energy produced by fossil fuels. In comparison to coal and oil, natural gas is thought to aid in the transition to a future low-carbon energy system. The capturing of CO2 could be done through various combustion and stream technologies. In the coming decades, as green energy is still being researched or is not yet a fully developed option, the adoption of Carbon Capture Utilisation and Storage (CCUS) technology would be both a short- and long-term solution for reducing CO2 emissions brought on by rising energy demand and continuous reliance on fossil fuels. As a result, CCUS retrofitting in the oil and gas value chain would be a choice for supporting the continuous use of the economical fossil fuel energy sources with low/negligible carbon emission in support of the switch to green energies.