The North American company Exxonmobil uses, until 2027, a part of its investment portfolio estimated at US$15 billion, in the implementation, in Angola, of projects in the areas of capture and storage of carbon dioxide, production of hydrogen and biofuels, within the scope of the United Nations 2030 agenda, to achieve the Sustainable Development Goals (SDGs).
The information was provided by Exxonmobil’s Director of Public and Government Relations for Angola, Armando Afonso, during a presentation at the 2nd Environment and Development Conference, held Tuesday and Wednesday, in Luanda, by the magazine Economia & Mercado, where the goals were analyzed. , challenges and ongoing projects for the energy transition in Angola.
The US$15 billion, according to Armando Afonso, is intended for the implementation of projects at a global level, that is, in all countries where the company is located, with Angola representing a strategic region due to its strong potential in the production of hydrocarbons and with a demographic growth that reflects on energy needs. The implementation of projects, according to the official, should have as criteria the most appropriate environmental characteristics and the ability to return on investments, taking into account the premise of sustainable development that aims to “meet the needs of the present without compromising future generations” .
Armando Afonso recalled that Exxonmobil created, about a year and a half ago, a new business unit called Low Carbon Solutions, which focuses on innovative projects in the area of capturing and storing carbon gas (CO2), production of hydrogen and biofuels, covering initiatives and opportunities in which the 15 billion dollars will be invested.
The Exxonmobil senior official maintained that this is a global investment because, in his opinion, the great challenge that humanity has is to satisfy the energy needs of a constantly growing population, while making an effort to reduce emissions. atmospheric conditions with an impact on climate change. “Our focus is global, our thinking is global with localized actions, that is, at the moment we are making the roadmap to know where we can add value, from the beginning, from 2016, until the present date, we have already reduced in about 94 percent the burning of associated gas and we also reduced the volume of atmospheric greenhouse emissions by about 74 percent,” he said.
Reduction of emissions
The official added that the company “will continue to make every effort” to reduce methane gas emissions and identify opportunities in terms of operations and optimization to continue reducing greenhouse emissions. “This is Angola’s contribution, but in other countries, where there are more mature and larger-scale projects, we will be able to see projects in the area of capturing and storing carbon dioxide and hydrogen projects that we will start to implement, as well as in biofuels area”, declared the source. Armando Afonso considered that “this global set of initiatives will compete with each other, because wherever it makes the most sense in terms of reducing carbon intensity and, of course, the return in terms of investments, these projects will be priorities”.
By 2025, Angola intends to reach a contribution of one gigabyte in its energy matrix, which, if implemented, will place the country among the territories with the highest penetration of renewable energies. This commitment was made, in 2021, by the Angolan Head of State, at the Climate Summit, held in Glasgow, Scotland.
