8 | Valaris 249 rig next to Māui B in Taranaki. OMV is focused on being carbon net zero by 2050. ENERGY OMV New Zealand In March this year OMV Global presented a new transformation strategy, which signalled a significant but exciting shift in direction as the company strides towards net carbon zero 2050. One of Austria’s largest listed industrial companies, OMV Group has three main business divisions; Chemicals and Materials, Refining, and Upstream Production of Oil and Gas. Last year the Chemicals and Materials division purchased a major share in one of the biggest petrochemical companies in Europe, and a global market leader in the production of polyolefins. “The company is also a market leader in mechanical and chemical recycling of plastic waste,” says OMV New Zealand MD Henrik Mosser. “The transformation is to take OMV from a linear value chain to a circular value chain economy. A key element of that is to diversify our feedstock for refining and petrochemicals away from fossil fuels into sustainable fuels, or recycled materials.” While on the sustainable side, alternative fuels could be biofuels or hydrogen, a big portion will come from recycled materials. “In 2017 we built a pilot plant that converts one hundred kilograms of plastic waste/per hour into one hundred litres of oil for the refinery. “That’s now being upscaled to industrial size to generate feedstock out of plastic waste for the refinery. We’re also building the biggest green hydrogen electroliser in Austria, which from next year will produce around fifteen hundred tonnes of hydrogen a year. “What that means for the upstream oil and gas producing sector is a move away from oil, and more into gas. The main reason for that is we set ourselves a target to become carbon net zero by 2050 in all three emissions reduction target scopes.” Scope 1 is emissions from OMV’s own operations. Scope 2 is emissions from purchased third party energy needed for OMV’s operations. Scope 3 is emissions from OMV’s customers using OMV’s products. Henrik says even before reaching the 2050 target, OMV Global has set several targets to move away from fossil fuels, using money generated from oil and gas to establish a low carbon business. “We aim to invest five billion euros until 2030 to build up that low carbon business. “The focus areas identified are areas we see we can add value with the skills and the strengths that we bring from our oil and gas up stream history. “On the one hand that would be geothermal and we intend to generate about nine terawatt hours by 2030. There is also carbon capture, storage and utilisation which is a big element because we can utilise existing underground oil and gas reservoirs for the storage of gas or Co2 or hydrogen in the future for energy. “We aim to invest around one terawatt hours per year in renewable electricity to utilise for our own operations to reduce emissions from our operations. So there’s quite a substantial shift away from fossil fuels into sustainable feedstock for the refinery, recycling and the circular economy, and more focus on gas. New Zealand is an excellent fit into that strategy because we are already 80 – 85% gas and already converting the majority of that gas into a petrochemical product rather than burning it.” “We aim to invest five billion euros until 2030 to build up that low carbon business.” OMV strategy to move from fossil fuels T T Richard Loader 73 Corbe� Road, Bell Block New Plymouth 4312 Providing pilotage and logistics support to the oil & gas industry since 1996. Providing pilotage service to the iron sands export operation since 2014. We also provide a wide range of survey services ranging from marine, wind farm and defence. +64 6 758 5100 www.etlgroup.co.nz office@etlgroup.co.nz
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