Decarbonisation a necessity for climate change: world energy leaders at EGYPS 2023

CEOs of multiple leading companies in the energy sector discussed their companies’ contributions to decarbonising the industry and using renewable energy for a better planet during a session titled Decarbonising the Industry at the six edition of the 2023 Egypt Petroleum Show (EGYPS) in Cairo on Wednesday.

Jean-Philippe Torres, Senior Vice President Africa of TotalEnergies, stated that Europe aims at reducing carbon emissions by 40 percent by 2030.

Reaching this percentage in Europe is doable since it has excessive availability of electricity. According to Jean Sentenac, President and CEO of Axens, Egypt is switching from oil to gas to reduce 30 percent of its emissions.

The speakers of the session have mentioned that one of the most effective ways of decarbonising is the usage of renewable energy such as methanol and green hydrogen, but it has several challenges.

Rich Sumner, CEO of Methanex, has stressed the necessity of methanol, but the majority of the renewable gasses such as green hydrogen are expensive and not in scale.

“We will work with natural gas suppliers to produce green methanol. It is very expensive and hard to find, but this is something we will pursue to do,” Sumner explained.

In light of Egypt’s 2030 vision, Ibrahim Mahgoub, President and Chairman of Echem, has highlighted Egypt’s direction towards a more sustainable industry, with the support of the government.