Report identifies five international collaboration actions to transform hydrocarbon basins for net zero

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A report published by the Net Zero Technology Centre identifies global innovation priorities across traditional hydrocarbon basins, including blue and green hydrogen, offshore wind, oil and gas electrification, carbon capture and storage, and digital transformation technologies to achieve the Paris Agreement emissions targets and create integrated net zero energy systems.

Initiated at COP26, Closing the Gap: A Global Perspective was contributed to by twelve technology and research organisations from Japan, Egypt, Netherlands, USA, Australia, Canada, Brazil, and the UK, providing a truly global perspective on the energy transition and the journey to creating integrated energy systems.

The report prioritises five international collaboration actions to accelerate technology innovation and deployment internationally and achieve net zero as quickly, efficiently and affordably as possible:

1. Hydrogen innovation at the pace and scale needed requires more collaboration, testing, and demonstration facilities.

2. Carbon Capture cost reduction will be achieved through the development of novel materials. 

3. Floating offshore wind can be boosted by collaboration on innovative and standardised modular substructures.

4. Internationally aligned grid connection and transmission infrastructure will improve energy security.

5. Shared industry data trust can unlock rapid development and adoption of new net zero solutions to decarbonise industries globally.

Luca Corradi, Innovation Network Director, Net Zero Technology Centre, said, “The current global energy crisis puts energy security under the spotlight. Urgent collaborative investment in new affordable low-carbon technologies is needed to accelerate innovation, reduce the costs of the energy transition, and deliver energy security. In the report, we identified key collaboration opportunities and created a call to action to drive innovation and achieve net zero.”

Heather Campbell, Executive Director, Clean Technology, Alberta Innovates, said, “Achieving net zero requires patience, perseverance, and passion. Adding in international collaboration and shared investment in innovation, technology and energy systems brings prosperity to the climate challenge.”

Metzi Prince, Program Manager, Emissions Reduction Fund, and R&D Delivery Manager, Energy Research & Innovation Newfoundland & Labrador, said, ” We all have an objective to reduce emissions in our industry. 2050 is going to be here really quickly. It’s clear as we go through the energy transition, we need to continue to invest in R&D and innovation. By sharing our research across jurisdictions, we can more efficiently identify technology advancement opportunities and best practices to address the global climate challenge.”