Thu 19 May 2016 at 18:00 PM
Politics, Economics, and Technical Challenges of the Low Carbon Future and How it Impacts Oil and Gas
Sponsorship is provided by Scottish Oil Club (Students).
This event occurred on: Thursday, 19 May 2016, 6 p.m.
The oil and gas industry is currently in crisis – supply exceeds demand and has resulted in oil prices falling to less than half their value of 12 months ago. According to the Financial Times in June 2015, this has led to postponement or cancellation of ca. $200 billion worth of projects worldwide (Adams, 2015).
The industry is restructuring and many staff are being laid off; figures quoted in June 2015 indicate 150,000 worldwide (Eaton, 2015). But worse may be to come. Because of increasing concerns about the effects of high carbon dioxide (CO2) emissions on the planet’s climate, the oil and gas industry will need to adapt to a future of regulated carbon usage and lower demand, as technology enables other energy sources to power traditionally oil and gas dominated sectors.
This presentation summarises the context, including Policymakers’ and Governments’ response to potential climate change, and identifies the risks and opportunities that make the case for oil and gas companies to change.
We define a blueprint for the oil and gas industry that will enable companies to adapt to a low-carbon future. This covers getting low-carbon ready, engaging with stakeholders and positioning for the longer term.
Transitioning to a low-carbon future is one of the greatest challenges of our times. Ignoring it is not an option.
Sam Gomersall, Pale Blue Dot Energy Ltd
Sam has 30 years’ experience in the energy sector, starting out as an engineer and having spent much of his time in senior management and board positions within the oil and gas sector. During the last eight years Sam has been deeply involved in the delivery of early stage CCS projects, working on funding applications and studies, with a focus on UK projects. Sam has a BSc in Mechanical Engineering. In his spare time he enjoys running and mountaineering.
Sue Paterson, Pale Blue Dot Energy Ltd
Sue has 35 years Oil and Gas industry experience, including a varied career in Shell, working in Exploration, New Business Development, Non-Operated Ventures and HR. More recently Sue has been involved as a consultant, author and non-executive director. Sue is the co-author of “The Fear Free Organization: Vital Insights from Neuroscience to Transform Your Business Culture”, published by Kogan Page in July 2015.