The Oil and Gas Climate Initiative (OGCI), a coalition of 12 major energy companies, is increasing efforts to decarbonise transport.
With a decade of progress under its belt, including cutting methane emissions in half and reducing flaring by 45%, the OGCI is now focused on hydrogen and biofuels as key solutions to one of the world's biggest sources of CO2 emissions.
Since 2017, OGCI members have invested nearly $100 billion in low-carbon technologies, from biofuels to carbon capture. Building on this, the group has released new studies showing how hydrogen and biofuels could play a crucial role in reducing emissions from transport.
For heavy-duty transport, hydrogen is seen as a game-change. The Road Ahead for Hydrogen-Powered Mobility report highlights the need for:
Meanwhile, for the maritime sector, biofuels could offer a major emissions reduction opportunity. The Biomass for Marine 2025 study projects a significant rise in global biomass availability by 2050, much of which could be used for marine fuels.
While adoption of hydrogen and biofuels is expected to remain gradual until 2030, a sharp increase is anticipated by 2040 as technology scales up.
Amy Bason, Deputy VP of strategy and policy at OGCI said: "Decarbonising transport is critical to tackling climate change and low carbon fuels play a vital role in achieving that goal".
"By bringing together the world’s leading energy companies and industry partners, OGCI is accelerating the development and deployment of real, scalable solutions toward a low-carbon future".
As the transport sector faces mounting pressure to meet net-zero targets, OGCI is pushing ahead with emerging technologies that can help cut emissions at scale.
