Vice President Asia Pacific, STOREGGA
Based in Singapore, Peter is the regional representative of Storegga, a UK headquartered company established in 2019 with the sole purpose of acting as an independent champion for the development of carbon capture projects and related decarbonisation technologies. Storegga is the lead developer of the Acorn project in Scotland in partnership with Shell and Harbour Energy, one of the leading UK CCS and hydrogen projects. Storegga’s business interests are rapidly expanding in internationally.
In addition to his Storegga role, Peter is also the Managing Director APAC of the prestigious Energy Institute (EI). The EI is the UK chartered professional membership body working across the world of energy with a focus of creating a better energy future for its members and society by accelerating a just global energy transition to net zero.
Peter has spent most of his career in the oil and gas industry but is now a strong advocate for the energy sector’s need to transition towards a cleaner, greener future. In recent years, Peter has worked as an independent advisor, consultant and executive coach to a number of organisations and governments agencies on issues related to the energy sector development within the context of the energy transition and decarbonisation and their strategic implications.
A report published last month (in September 2022) highlighted that the 13 flagship existing CCS schemes worldwide, which together represent 55 per cent of captured CO2 have mostly significantly underperformed.
Across their lifetime, the report states that ExxonMobil’s LaBarge facility at Shute Creek in Wyoming has underperformed by around 36 per cent in terms of capacity. The world’s only large power station with CCS, Boundary Dam in Saskatchewan, Canada, has captured about 50 per cent less than planned, according to the report, and the capacity of Chevron’s Gorgon gas scheme in Western Australia has been about 50 per cent lower than planned in its first five years. Two projects included in the report failed completely, including the Kemper coal CCS project in Mississippi, which was long delayed and construction was eventually abandoned in 2017.
On a more positive note, the report finds the Sleipner and Snøhvit CCS projects in Norway have been a success, which it says is largely due to the “country’s unique business and regulatory environment”.
Some say that CCS projects, more often than not, never actually work to its design capacity others (including the presenter) firmly believe that performance has largely been driven by the fundamental conflict between optimising carbon storage capacity and utilising carbon capture as a means of increasing core business activity, in particular, oil and gas production. CCS technology dates back to the 1970s, and in most cases has been used to extract more oil and gas from reservoirs rather than focused on curbing climate change by capturing CO2 for the long term.
“For CCS projects to play their part in decarbonisation, project development needs to be commercially justified on the basis of the carbon value chain alone if they are to become a successful tool in our global decarbonisation toolbox”.
The presenter will aim to present his case utilising the lessons leaned from his company, STOREGGA, whose business model is entirely focused on decarbonisation. Storegga is the lead developer of the Acorn project in NE Scotland and is actively developing a global portfolio of CCS project development opportunities, including here in SE Asia.
Dinner and networking starts at 6pm. Lecture begins at 7pm. Event closes at 9pm. Soft drinks, Alcoholic drinks and meal included in price - Members of EI, SICC and SPE are $50, Non members $75 and students $25.