The potential of oil & gas exporters to contribute to global decarbonization is vastly underappreciated. In the article linked below, I summarize our recent peer-reviewed paper showing how Norway (as an energy exporter) can help Germany (as an energy importer) to decarbonize rapidly, practically, and economically while maintaining attractive profit margins. The key is to develop a local CCS industry (basically just oil & gas extraction in reverse) using the vast pool of relevant local expertise, and export a diversified mix of decarbonized energy products. Electricity and hydrogen can be exported to neighbouring countries, and a wide range of other easily tradeable and storable industrial products (exemplified by steel in our study) can access global markets, reducing risks from uneconomical green technology-forcing policies in neighbouring countries.
Read the full article at: energycentral.com