Energy Transition in the Oil and Gas Industry

10/02/2024 07:40

LNG Thi Vai port warehouse. Photo: PetroVietNam

(PLVN) - Recently, our country's oil and gas industry has been taking strong and clear steps in shifting energy from black to green. Most recently, oil and gas companies have signed a series of documents with US businesses to develop sustainable energy.

Developing sustainable fuels

Recently, Petrovietnam and two US enterprises, Kellogg Brown & Root (KBR) and GE Digital International LLC (under GE Group), signed Memoranda of Understanding (MOUs) to enhance cooperation between the two sides in the field of green technology and sustainable fuel development, especially sustainable aviation fuel (SAF).

This is not only a premise to strengthen and deepen the cooperative relationship between Petrovietnam and KBR in promoting research on advanced technical and technological solutions, but also to expand investment opportunities in the production of new energy and sustainable green fuels such as SAF, green hydrogen, green ammonia... in the future.

“This event is a strategic step, helping Petrovietnam access advanced technologies and technical solutions for energy transition and carbon emission reduction,” said a Petrovietnam representative, adding that this is an opportunity to expand investment in new energy projects and sustainable fuels, contributing significantly to the energy transition and carbon emission reduction roadmap.

Petrovietnam and GE Digital International LLC signed a MOU to develop digital transformation solutions for operations in the electricity and oil and gas sectors. This is the result of continuous efforts from both sides, with the desire to create a breakthrough in the application of advanced digital technology solutions in the electricity and oil and gas sectors - two pillars of the national economy.

According to Petrovietnam, this unit and GE have cooperated in many large power projects such as Nhon Trach 1, Nhon Trach 3&4, Song Hau 1, Long Phu 1, Vung Ang... "With this new Memorandum of Understanding, Petrovietnam and GE continue to affirm their common commitment to developing sustainable and advanced solutions for the electricity and oil and gas industries, helping Petrovietnam seize new opportunities in the context of globalization and energy transformation, while affirming Petrovietnam's position in the race for digital technology and sustainable energy", said a Petrovietnam representative.

PetroVietnam Technical Services Corporation (PTSC), a unit of Petrovietnam, has also signed a cooperation agreement with two major US enterprises, Excelerate Energy and Enerflex. Specifically, according to the strategic partnership agreement between PTSC and Excelerate Energy, the two sides will conduct joint research to develop projects in the transportation and storage of liquefied natural gas (FSRU) in Vietnam. In the context of the constantly increasing energy demand in Vietnam, FSRU is an outstanding solution in the storage and regasification of LNG (liquefied natural gas), allowing for the flexibility of natural gas supply for Vietnam, while contributing significantly to the transition to cleaner energy sources.

“Excelerate Energy, with its experience and advanced technology in the FSRU field, will support PTSC in implementing these projects safely and effectively,” said a PTSC representative, adding that this is not only a big step forward in improving LNG supply capacity, but also demonstrates the strong commitment of both parties in promoting clean and sustainable energy development in Vietnam.

In addition, PTSC has also signed a contract to supply gas booster compressors with Enerflex, one of the leading suppliers of energy solutions in the United States.

Source: https://baophapluat.vn/chuyen-dich-nang-luong-trong-nganh-dau-khi-post527279.html