Topic: Virtual DL - Is There A Future For Oil & Gas In A Net Zero World?
Time: May 20, 2021 12:00 PM Singapore
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Meeting ID: 499 805 2642
SPE Gaia Talk | Sustainability
Our industry is facing mounting pressure from all sides to decarbonize. Regulations are getting tougher in response to public pressure and investors are pulling capital out of the oil and gas industry over concerns that assets may be left in the ground stranded. Natural gas has been touted as the transition fuel to net zero. However, because of the methane emitted in the production and distribution process, some believe that it is dirtier than coal and cannot play this role. We have to act now or our industry will be viewed adversely and collectively we will make poor energy decisions for our planet. Technology that is able to detect and measure methane emissions is showing that we have a problem along our entire exploration, production, processing and distribution chain. According to the World Bank Global Gas Flaring Reduction group, every day over 14.5 billion standard cubic feet of gas is vented and flared globally. In addition to being a monumental waste of energy, this practice releases methane, VOC’s, PAH’s, particulates and other harmful pollutants into our atmosphere impacting air quality, human health and contributing to climate change. Methane is 86 times worse that carbon dioxide over a thirty-year time frame which means that eliminating these fugitive emissions is one of the biggest opportunities to cost effectively reduce greenhouse gas emissions providing an immediate impact in a short time frame. Can we act, do we have time to change the narrative and can we create a great future for all? What will it take?
Audrey Mascarenhas is President and CEO of Questor Technology Inc. (Questor) a public, international company focused on clean air and energy efficiency technology. Audrey has worked in energy and environment for over 39 years with Gulf Canada Resources Ltd., presently Conoco-Phillips and Questor. Through her leadership, she has focused on technology solutions to eliminate methane and harmful pollutants. Audrey shares her passion for the environment and served as a distinguished lecturer with the Society of Petroleum Engineers (SPE) in 2010-2011. She is a graduate of the University of Toronto with a Bachelor’s degree in Chemical Engineering and holds a Masters Degree in Petroleum Engineering from the University of Calgary. She is a fellow of the Canadian Academy of Engineers. Audrey was the recipient of the Ernst & Young Entrepreneur of the Year 2011 Prairies Award for Cleantech and Environmental Services and received a national citation for Values-Based Innovation. Audrey currently serves as an expert on the Circular Economic Panel advising Environment Canada, the Lazaridis Institute global advisory and the Schulich Industry Engineering Advisory Council. She chaired the Canadian Federal Government Clean Technology Economic Strategy table and was an Energy Futures Lab fellow.