The UK Government’s long awaited ‘Energy White Paper’ was released in December, building upon the ‘Ten Point Plan’ released a month earlier. Stopping short of ‘boiling down’ the 170 page document into a number of key points, as many have done to varying degrees already, it is (and was already) clear, that considerable public and private investment is needed to make the UK both a global leader in ‘green technology’ and to achieve ‘net zero’, by 2050.
The implementation of a successful ‘energy transition’ between now and 2050 requires many aspects, not limited to; electrification, energy efficiency gains, fugitive emissions cuts, renewables expansion, energy security, carbon capture and storage (‘CCS’), green/blue hydrogen (and so on). At G2W Ventures we acknowledge that a myriad of ‘energy transition pathways’ need to be played out successfully and concurrently in order to deliver these ultimate goals. We also see (as many we talk to also have) that whilst many ‘visions’ of 2050 have been laid out, not many feasible ‘pathways’ have been identified to get there.
Our experience is predominantly from within the oil and gas sector – risk management, project development, real options, marginal fields, financing (and so on). We have used this to identify a very real and achievable pathway to deliver ‘net zero’, which starts, or rather is ‘enabled’ through a Gas2Wire project. Our new company website, which has recently launched, focuses on ‘gas-to-wire’ technology. We invite you to take a look: www.g2wventures.com. Each Gas2Wire project is destined to become what we call a ‘Gas2Wire PowerHub’, having the potential to pilot and incorporate technologies that will commercialise green hydrogen, CCS and blue hydrogen.
The white paper talks about the transformation of our energy system, promoting high-skilled jobs and clean, resilient economic growth. Our projects intend to deliver and achieve net zero ahead of 2050.
Article by Paul Dinham
18th January 2021