In March 2002 Scotland’s last active deep coal mine closed in Longannet, Fife. While it marked the end of an era in the country’s industrial history, with a climate emergency now declared and the race to net-zero set to fast-forward, its legacy is set to open a dynamic new chapter.
By Patrick Hanson, Senior Geothermal Development Manager, Expro
Transitioning to a sustainable energy future requires the increased and widespread use of renewable energy sources like geothermal, hydroelectric, solar, wind, and bioenergy.
While each renewable energy source competes for market share, a coordinated effort from all renewables is required to meet carbon neutrality objectives.
Karl Farrow, Founder and CEO of CeraPhi Energy talks about the opportunity Geothermal presents as part of the energy mix and how the skill set of the Oil and Gas sector can be harnessed in this transition.
Indonesia, home to the world’s largest geothermal energy potential, is opening tenders seeking investors to develop this giant resource, as it aims to expand the use of renewable energy to meet its net zero goals.
As the UK aims to reach net zero by 2050 we will see more and more wells decommissioned both on and offshore; geothermal specialist CeraPhi believes it can use some of this infrastructure to heat buildings and power installations across the country.
Chevron New Energies International (Chevron), and Mitsui Oil Exploration Co., Ltd (MOECO) today announced the signing of a joint collaboration agreement to explore the technical and commercial feasibility of advanced geothermal power generation in Japan.
Unlike water or gas, in the UK geothermal energy is not recognised by law as a natural resource. Bespoke regulatory systems, licensing and management are urgently needed along with government support to develop the UK’s geothermal sector, writes Dr Corinna Abesser of the British Geological Survey.
Newly elected President Ferdinand Marcos Jr reiterated his support for more renewable energy, as well as nuclear power, and natural gas, in the Philippines, one of Southeast Asia’s fastest growing economies. The news comes as plans to import maiden liquefied natural gas (LNG) cargoes into the country have stuttered due to surging global prices.
Getech, a geoenergy and green hydrogen company, has secured $2.15 million of new contracts. These include geoscience data sales and product renewals and extensions for the Group’s ground-breaking Globe knowledge base, which models the earth’s evolution over the last 400 million years.
The UK’s first end to end Geothermal business – CeraPhi Energy located in Great Yarmouth – has this month announced its commitment to deliver net zero carbon by 2040 with its signing of the Climate Pledge, a worldwide commitment made by companies and organisations across the globe.
Indonesia’s Medco Energi (IDX:MEDC) is on the lookout for more merger and acquisition (M&A) opportunities in Southeast Asia after successfully buying ConocoPhillips Indonesian assets in a $1.355 billion deal struck last year.