PTTEP’s goal to achieve Net Zero Greenhouse Gas Emissions
With the spirit and determination towards sustainable growth, PTTEP operates with consideration to create the right balance of business, social and environmental aspects as well as shared values for stakeholders. PTTEP therefore takes part in managing greenhouse gas and solving global warming issues. The effort is in line with the global action on climate change and Thailand’s commitment to the UN Climate Change Conference of the Parties (COP26) in Glasgow, where Thailand agreed to reach carbon neutrality in 2050 and Net Zero Greenhouse Gas Emissions in 2065.
We set forth to reach Net Zero Greenhouse Gas Emissions by 2050 with our EP Net Zero 2050 concept. This goal covers both direct emissions (scope 1) and indirect emissions (Scope 2) of the exploration and production business under PTTEP’s operational control. PTTEP also has set interim targets to reduce greenhouse gas emission intensity by at least 30% within 2030 and 50% within 2040 (from base year 2020) and achieve net zero greenhouse gas emissions in 2050.
The E&P Portfolio will be managed to transform PTTEP into a lower-carbon organization. New projects with an emphasis on natural gas and greenhouse gas intensity will be factored into the investment decision-making process.
PTTEP will pursue the development of technology to reduce greenhouse gas emissions from the production process, in particular Carbon Capture and Storage which will dramatically reduce greenhouse gas emissions. The captured emissions will be injected and sequestrated in the reservoirs located in the Gulf of Thailand and Malaysia, marking the first of its kind in Thailand. Aside, PTTEP is studying technology for Carbon Capture and Utilization, to turn CO2 into value-added products or future materials.
The company is also moving forward Zero Routine Flare initiative for new projects, by using technology to recover and utilize flare gas along with Carbon Capture and Storage (CCS). We will also aim to maximize the use of renewable energy i.e., solar and wind power and explore new forms of future energy such as Hydrogen for use at our operating sites.
PTTEP also focuses on emissions offsetting through the planting of trees in forests and mangroves (Carbon Removal Project) which will increase the natural carbon sink with the target to absorb more than 2 MMTCO2 in 2050. Ocean for Life projects will be continuously conducted to improve the biodiversity abundance and marine ecosystems as healthy oceans and coastal ecosystems are the efficient sources of carbon sink.
PTT Exploration and Production Public Company Limited555/1 Energy Complex Building A, 6th Floor & 19th - 36th Floor, Vibhavadi-Rangsit Road, Chatuchak, Chatuchak, Bangkok 10900 Thailand
Phone : 66 (0) 2537-4000
Fax : 66 (0) 2537-4444
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