Thursday, June 5, 2025
No Result
View All Result
newshub
  • Global news
  • Financial insights
    • Africa
    • Asia
    • Australia
    • Central Banks
    • China
    • Commodities
    • Europe
    • Banking
    • Corporate
    • Neobanking
    • Investment
    • Japan
    • South East Asia
    • Stock of the week
    • UK
    • US
  • Fin & tech
    • AI
    • Blockchain
    • Crypto
    • MSTRpay
    • Tech
  • Climate & energy
    • Climate
    • Carbon
    • Coal
    • Disruptive
    • Gas
    • Nuclear
    • Oil
    • Solar
    • Water
    • Waves
    • Wind
    • Renewable
    • South America
  • Lifestyle
    • Best chefs
    • Cocktail of the week
    • History
    • Influential women
  • WEX
    • Alt Kap Holding AB
    • Digital Network Holding, Inc.
    • Fantas-E AB
    • International Clean Energy Inc.
    • Intritum Partner Limited
    • Intritum Recycling GH Limited
    • MSTRpay AB
    • SWAP Services, Inc.
    • VMT Holding, Inc.
    • Universal Streaming Technologies – USTA
    • TC Unterhaltungselektronik AG
  • Global news
  • Financial insights
    • Africa
    • Asia
    • Australia
    • Central Banks
    • China
    • Commodities
    • Europe
    • Banking
    • Corporate
    • Neobanking
    • Investment
    • Japan
    • South East Asia
    • Stock of the week
    • UK
    • US
  • Fin & tech
    • AI
    • Blockchain
    • Crypto
    • MSTRpay
    • Tech
  • Climate & energy
    • Climate
    • Carbon
    • Coal
    • Disruptive
    • Gas
    • Nuclear
    • Oil
    • Solar
    • Water
    • Waves
    • Wind
    • Renewable
    • South America
  • Lifestyle
    • Best chefs
    • Cocktail of the week
    • History
    • Influential women
  • WEX
    • Alt Kap Holding AB
    • Digital Network Holding, Inc.
    • Fantas-E AB
    • International Clean Energy Inc.
    • Intritum Partner Limited
    • Intritum Recycling GH Limited
    • MSTRpay AB
    • SWAP Services, Inc.
    • VMT Holding, Inc.
    • Universal Streaming Technologies – USTA
    • TC Unterhaltungselektronik AG
No Result
View All Result
newshub
No Result
View All Result
ADVERTISEMENT

‘Oil and gas trade show’ promotes carbon capture at Cop27

2022/11/14/12:56
in Climate & Energy, Gas, Oil
Reading Time: 5 mins read
248 5
A A
‘Oil and gas trade show’ promotes carbon capture at Cop27

Saudi Arabia's pavilion is one of several promoting carbon capture and storage at Cop27 climate talks

MSTRpay MSTRpay MSTRpay
ADVERTISEMENT

Fossil fuel lobbyists outnumber every national delegation at the Cop27 climate summit and their influence shows – on the sidelines and in the negotiations.

The Egyptian host, a gas exporting nation, has made reducing the industry’s carbon footprint a focus of its carbon-cutting initiatives.

“Oil and gas have a vital role to play in this transition. Since it is part of the problem, it should be part of the solution,” its petroleum minister Tarek El Molla, told the opening of the summit’s “decarbonisation day”.

Cutting methane emissions from production and capturing and storing carbon from polluting power plants got plenty of airtime. Phasing out oil and gas production was barely mentioned.

Polluters have pitched carbon capture and storage (CCS) as the solution to decarbonise carbon-intensive industries for decades, but it remains commercially unproven. The few projects that make it pay do so by using the captured CO2 to extract more oil from the ground.

Inside the conference centre, oil and gas-producing nations, including Egypt, UAE, Saudi Arabia and Canada, showcased plans to use the technology at scale.

Its proponents are pushing for CCS to be included in a UN Climate Change process to ramp up national carbon-cutting ambition this decade.

Campaigners call it a “false solution” that provides a lifeline to the fossil fuel industry and distracts from the need for oil and gas phase-out.

Rather than a last resort to decarbonise hard-to-abate sectors such as steel and cement “it’s become plan A,” said Marine Pouget, of Climate Action Network France.

Defining a market

Inside negotiating rooms, diplomats are defining what kind of “carbon removals” are eligible for trading as carbon credits.

The technical body recommends a broad definition of “removals”. Any human activity that “durably” stores carbon in geological formation, land, ocean reservoirs and products would qualify. Even wooden furniture could count.

Campaigners warn this would open the door to a raft of controversial and unproven technologies. Some, like CCS, have repeatedly underdelivered on their promise. Others, like ocean fertilisation – adding nutrients to seawater to stimulate photosynthesis and draw carbon in – bring ecological concerns.

“This would allow the fossil fuel industry to continue business as usual while relying on risky technology that we are not sure is going to work,” Erika Lennon, a senior attorney at the Center for International Environmental Law (Ciel), told Climate Home. Instead, the focus should be on real emission cuts, she said.

Argentina, Brazil and Uruguay have raised concerns about the “vagueness” of the plans. Saint Kitts and Nevis called for more work to differentiate between types of removals.

A negotiator for a small island state told Climate Home: “If we are really trying to limit warming to 1.5C –  which we must – we can’t replace the urgent cuts in fossil fuels needed with unreliable or impermanent offsets.”

Shaping the conversation

The presence of the oil and gas industry at the talks has grown since the Cop26 summit in Glasgow last year. A total of 636 oil and gas lobbyists registered to attend Cop27, according to NGO analysis of a provisional list of attendees.

In week one, Egypt launched the East Mediterranean Gas Forum regional decarbonisation initiative, in which CCS featured prominently.

Saudi Arabia announced the creation of a CCS hub to deliver on its “green initiative” to reach net zero by 2060.

Campaigners disrupted an event by the Pathway Alliance, a coalition of Canadian tar sands producers that have committed to achieving net zero emissions in their operations by 2050. The industry’s plans rely heavily on CCS.

The alliance has placed ads about its CCS plans on links to download programmes of events hosted in some pavilions. Sources showed Climate Home screenshots of the ads on their phones.

“Decarbonisation day was a complete oil and gas trade show in the halls of Cop27,” Julia Levin, of Environmental Defence Canada, told Climate Home. “They are spending big bucks to shape the conversation here,” she said.

Phaseout agenda stalls

These commercial interests make it unlikely Sharm el-Sheikh will build on Glasgow’s groundbreaking call to phase down unabated coal power.

India is pushing to expand the statement to cover all fossil fuels. Coal remains an important fuel to big Asian economies and some felt it had been unfairly singled out. A much wider group of countries relies on oil and gas.

Costa Rica, which jointly launched the Beyond Oil and Gas Coalition with Denmark last year, is now distancing itself from the initiative.

The Climate Vulnerable Forum, representing those hardest hit by climate chaos, is more focused on finance for loss and damage. Asked at a press briefing if he supported a fossil fuel phaseout, Ghanaian chair Henry Kokufu fired back “for developed or developing countries?” Ghana has a petrochemicals industry, he noted.

Last year, the Maldives’ environment minister, Shauna Aminath, told the Cop26 meeting that progress on phasing out fossil fuels “is not in line with the urgency and scale required”. She added that “what is balanced and pragmatic to other parties will not help the Maldives adapt in time”.

At Cop27, she was more cautious. “Phasing out, phasing down… What we want is to keep global temperatures well below 1.5,” she told Climate Home.

US climate envoy John Kerry told a press conference on Saturday he remained upbeat. “[Cop27] President Sameh Shoukry has no intention of being the president – and Egypt has no intention of being the host – who oversaw retreat of what was achieved in Glasgow,” he said.

UAE agenda

The emphasis on decarbonising – rather than reducing – fossil fuel use could permeate into Cop28, Levin said.

Host and oil and gas producer UAE, which brought the largest number of fossil fuel lobbyists to the summit, is a big backer of the technology. It is counting on CCS to achieve its goal of net zero emissions by 2050.

In Sharm el-Sheikh, Abu Dhabi National Oil Company (ADNOC) showcased Al Reyadah, which it claims to be “the region’s first commercial-scale carbon capture utilisation and storage facility”.

“The UAE is known as a responsible supplier of energy and will continue to play this role as long as the world needs oil and gas,” president Mohammed bin Zayed Al Nahyan told the leaders’ summit earlier this week.

Related Posts

Unprecedented ocean heatwave discovered, five times Australia’s scale
Climate & Energy

Unprecedented ocean heatwave discovered, five times Australia’s scale

by newshub
9 hours ago

London – Scientists are today sounding a grave warning following the discovery of an unprecedented marine heatwave, a colossal expanse...

Read moreDetails
UK’s hottest spring signals deepening climate crisis

UK’s hottest spring signals deepening climate crisis

1 day ago
Trump opens Alaskan wilderness to drilling in sweeping energy policy shift

Trump opens Alaskan wilderness to drilling in sweeping energy policy shift

2 days ago
Alpine village of Blatten buried as glacier collapse signals climate alarm

Alpine village of Blatten buried as glacier collapse signals climate alarm

3 days ago
Soil carbon credits: A solution to climate change?

Soil carbon credits: A solution to climate change?

4 days ago
Gaza phone and internet cut off as Israel intensifies bombardment

Israel’s war on Gaza leaves a carbon footprint larger than 100 nations

5 days ago
No Result
View All Result

Recent Posts

  • This year the global finance readers flock to AI, tariffs, and recession-proofing advice in 2025
  • Markets steady as Europe opens quietly and Wall Street braces for tech data
  • Zelenskyy urges allies not to show weakness after Putin’s latest nuclear threats
  • Bitcoin eyes $115K mark, but strong US jobs data poses threat
  • Unprecedented ocean heatwave discovered, five times Australia’s scale

Recent Comments

    Archives

    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023
    • June 2023
    • May 2023
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022

    Categories

    • Africa
    • AI
    • An diesem Tag
    • Asia
    • Australia
    • Banking
    • Best chefs
    • Biden
    • Blockchain
    • Blockchain technology
    • Carbon
    • Central Banks
    • China
    • Climate
    • Climate & Energy
    • Coal
    • Cocktail of the week
    • Commodities
    • Corporate
    • Crypto
    • Deutsch
    • Deutsch PR
    • English PR
    • Europe
    • Financial insights
    • Focus on neobanking
    • Gas
    • Global news
    • Harris
    • History
    • India
    • Influential women
    • Invest and Rest
    • Italiano PR
    • Japan
    • Lifestyle
    • Metaverse
    • MSTRpay
    • Neobanking
    • News
    • newshub special
    • newshub-special
    • NFT
    • Nobel Prizes 2024
    • Nuclear
    • Oil
    • Press
    • Press releases
    • Pressroom
    • Renewable
    • Russia
    • Solar
    • South America
    • South East Asia
    • Stock of the week
    • Stocks
    • Svensk PR
    • Tech
    • Trump
    • Trump trials
    • UFO
    • UK
    • UK News
    • Ukraine
    • US
    • US politics
    • Waves
    • WEX
    • Wind

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    Recent Posts

    • This year the global finance readers flock to AI, tariffs, and recession-proofing advice in 2025
    • Markets steady as Europe opens quietly and Wall Street braces for tech data
    • Zelenskyy urges allies not to show weakness after Putin’s latest nuclear threats
    • Bitcoin eyes $115K mark, but strong US jobs data poses threat
    • Unprecedented ocean heatwave discovered, five times Australia’s scale

    Categories

    • Africa
    • AI
    • An diesem Tag
    • Asia
    • Australia
    • Banking
    • Best chefs
    • Biden
    • Blockchain
    • Blockchain technology
    • Carbon
    • Central Banks
    • China
    • Climate
    • Climate & Energy
    • Coal
    • Cocktail of the week
    • Commodities
    • Corporate
    • Crypto
    • Deutsch
    • Deutsch PR
    • English PR
    • Europe
    • Financial insights
    • Focus on neobanking
    • Gas
    • Global news
    • Harris
    • History
    • India
    • Influential women
    • Invest and Rest
    • Italiano PR
    • Japan
    • Lifestyle
    • Metaverse
    • MSTRpay
    • Neobanking
    • News
    • newshub special
    • newshub-special
    • NFT
    • Nobel Prizes 2024
    • Nuclear
    • Oil
    • Press
    • Press releases
    • Pressroom
    • Renewable
    • Russia
    • Solar
    • South America
    • South East Asia
    • Stock of the week
    • Stocks
    • Svensk PR
    • Tech
    • Trump
    • Trump trials
    • UFO
    • UK
    • UK News
    • Ukraine
    • US
    • US politics
    • Waves
    • WEX
    • Wind

    Archives

    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023
    • June 2023
    • May 2023
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    newshub

    © 2023-2025
    MSTRpay & PAXIT
    Legal & Disclosure

    • Global news
    • Financial insights
    • Fin & tech
    • Climate & energy
    • Lifestyle
    • WEX

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Global news
    • Financial insights
      • Africa
      • Asia
      • Australia
      • Central Banks
      • China
      • Commodities
      • Europe
      • Banking
      • Corporate
      • Neobanking
      • Investment
      • Japan
      • South East Asia
      • Stock of the week
      • UK
      • US
    • Fin & tech
      • AI
      • Blockchain
      • Crypto
      • MSTRpay
      • Tech
    • Climate & energy
      • Climate
      • Carbon
      • Coal
      • Disruptive
      • Gas
      • Nuclear
      • Oil
      • Solar
      • Water
      • Waves
      • Wind
      • Renewable
      • South America
    • Lifestyle
      • Best chefs
      • Cocktail of the week
      • History
      • Influential women
    • WEX
      • Alt Kap Holding AB
      • Digital Network Holding, Inc.
      • Fantas-E AB
      • International Clean Energy Inc.
      • Intritum Partner Limited
      • Intritum Recycling GH Limited
      • MSTRpay AB
      • SWAP Services, Inc.
      • VMT Holding, Inc.
      • Universal Streaming Technologies – USTA
      • TC Unterhaltungselektronik AG

    © 2023-2025
    MSTRpay & PAXIT
    Legal & Disclosure