Among COP26, expected oil and gas rainfall

Among COP26, expected oil and gas rainfall

“Take me to the moon”, Sung by Frank Sinatra (” Take me to the moon ”). Major hydrocarbon companies understand this as follows: their plans for future oil or gas pipelines represent 211,849 kilometers; Equal to more than half the distance of the Earth-Moon. Not to mention the terminals, and for liquefied gas, the path to carbon neutrality already seems long.

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For the first time, the “Global Oil and Gas Outflow List” 887 Integrates data on oil and gas production companies. A German environmental protection association, Urgewald, compiled them on Thursday, March 4, in Glasgow, in a bid to encourage people to quit hydrocarbons amid COP26, underscoring the urgency of reducing the use of fuel pollutants. Images.

A surplus

Contrary to the recommendations of the International Energy Agency, most of the listed companies – 95% of them – plan to explore or build new hydrocarbon reserves. From “Short-Term Extensionists”At the top of the list is the French company TotalEnergies (formerly Total). In principle, within one to seven years, a total of 4.3 billion barrels of extra oil will have to be produced – which is already producing 1 billion a year.

“We need to put the list of these climate companies on the path to harm,” said Lorette Philippe, campaigner for the French branch of Friends of the Earth.

Six companies outside of Europe are expected to record even more surplus: Qatar’s national company (in addition to 20 billion barrels), Russian Gasprom (16 billion), Saudi Arabia (15 billion), as well as an American company (ExxonMobil), or the Brazilian state (Petropras). ) Or Turkmenistan (Turkmenkas).

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Was contacted by The world, TotalEnergies ensures its oil production “Peaks in decades before decline”. Liquefied natural gas, company, despite its oil project in Uganda or in the Arctice Announcese “Since 2015, a profound change has been promised”. With “Ambition to become one of the Five Greatest Global Players Renewable (Energy) by 2030”, For which wind and solar power must be used.

By 2020, the multinational will still be in the “Top 10” of major manufacturers operating on tar sand (unusual oil) or very deep water.

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About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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