Net Zero Path
Net zero refers to the balance between the amount of greenhouse gas (GHG) that is produced in the atmosphere and the amount that is removed. Net zero can be achieved through a combination of emission reduction and emission removal.
Tackling climate change is an urgent challenge and one that the UN has described as ‘one of humankind’s greatest challenges’. The energy sector is making a global effort to move away from the use of fossil fuels, instead turning towards a future of renewable energy sources such as wind, solar and geothermal energy, ahead of the 2050 net zero deadline.
However, the 2050 net-zero deadline does not mean the end of oil and gas. In fact, it will continue to make up as much as 20 percent of current levels. In order to make substantial changes to the way we use and gather energy, oil and gas will be very much needed to power the solutions that do this. Drilling activity will continue but with a different focus: Geothermal, mining and underground storage for carbon dioxide and hydrogen will increase.
Cost is one of the main issues of the energy transition. Companies assume that current technologies will need to be completely replaced to hit targets, when actually current technology, solutions and expertise used within the energy sector are crucial for a net-zero future.
AnTech’s product lines means that it is possible to use its existing technology to address four of the five developing markets of the energy transition. The company has specialist drilling technology to reduce the cost of drilling wells for carbon and hydrogen storage, geothermal and mining; hazardous area technology for containing hydrogen; and high-temperature electronics for geothermal wells.
Overall, the oil and gas sector is able to ‘recycle’ current technology to help with the energy transition. Even though this seems counter-intuitive, it actually makes a great deal of sense. Indeed, technology providers to the sector are very much part of the solution rather than part of the problem.
Collaboration will be crucial in order to hit deadlines to create a ‘cleaner’ environment. AnTech’s drilling technologies and solutions are key to moving the sector forward, reducing costs and ensuring that new methods of creating energy can be brought on board and quickly utilised to create a more sustainable future.
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"THE KEY TO SUCCESS IS COLLABORATION"
TONI MISZEWSKI, CEO & FOUNDER
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