Mr. Mussabeh Al Kaabi: Hydrogen and CCS provide nice promise, however, like some other transformative know-how, they require R&D consideration, funding, and scale-up alternatives.
Hydrogen is an plentiful and moveable gas that would assist cut back emissions from many sectors, together with transport and energy. In the meantime, CCS might abate emissions from heavy, energy-intensive industries like metal and cement.
These applied sciences are confirmed, and we count on extra enhancements to permit wider client use. We’ll proceed to develop and spend money on them, whereas persevering with to responsibly present our conventional portfolio of low-carbon vitality merchandise that the world wants.
Q: Is there any proof the prices can come down?
Mr. Mussabeh Al Kaabi: Sure, completely. The dramatic fall within the value of photo voltaic over latest years—an 89% discount from 2010 to 2022 in response to the Worldwide Renewable Power Company—simply goes to point out that clear applied sciences can change into viable, mainstream sources of vitality if the proper coverage and funding mechanisms are in place.
Q: Do you prefer a specific decarbonization know-how?
Mr. Mussabeh Al Kaabi: We don’t have the luxurious of selecting winners and losers. The dimensions of the problem is just too nice. World economies devour the equal of round 250 million barrels of oil, gasoline, and coal each single day. We’re going to must spend money on each viable clear vitality and decarbonization know-how. If CCS can do it, let’s do it. If renewables can do it, let’s spend money on it.
That stated, I’m particularly optimistic in regards to the position synthetic intelligence will play in our decarbonization drive. We’ve been implementing AI and machine studying instruments throughout our worth chain for a few years; they’ve helped us eradicate round one million tonnes of CO2 emissions over the previous two years. As AI know-how grows at an exponential price, we’ll proceed to spend money on the newest improvements to make sure we offer most vitality with minimal emissions.