the view from HETI

HETI members to cover key energy transition topics at CERAWeek 2024

The sessions feature dozens of HETI Steering Committee leaders covering key energy transition topics. Photo via htxenergytransition.org

CERAWeek 2024, the world’s preeminent energy conference, will explore strategies for a multidimensional, multispeed and multifuel energy transition. More than 8,000 thought leaders, policymakers, and executives from across energy, finance, technology, and governments are convening in Houston to openly discuss our industry’s greatest challenges.

Taking place from March 18–22, 2024, the CERAWeek 2024 conference program will explore themes related to: energy markets, policy and geopolitics, company strategies, power markets in transition, new supply chains for net zero, capital transition, and technology and innovation.

The sessions feature dozens of HETI Steering Committee leaders covering key energy transition topics, including:

Session Theme: Energy Markets

Innovating the Energy Mix for Mobility
Monday, March 18, 2024 | 3:45 pm – 4:25 pm (CST)

Speakers: Meg Gentle, Executive Director of the Board, HIF Global; Emma Delaney, EVP, customers & products, bp

For over a century, the modern economy has been made possible by a global fossil fuel system that has delivered low-cost, scalable energy. Now after optimizing transportation fuels, engines and infrastructure, monumental changes are needed to power our future cars, trucks and airplanes while producing significantly less emissions. What’s next?

Energy Security in a Volatile World: The importance of markets
Tuesday, March 19, 2024 | 9:15 am – 9:50 am (CST)

Speaker: John Hess, Chief Executive Officer, Hess Corporation

Across the world, markets continue to seek visibility into what the post-pandemic normal will look like. How will supply and demand balance in a world of uncertainty?

Co-Location: The new duo of power generation and storage
Wednesday, March 20, 2024 | 12:00 pm – 12:50 pm (CST)

Speaker: Meghan Nutting, Sunnova Energy International, Inc.

Business models for grid-connected energy storage are being solidified around the world, leading to accelerated growth. In addition, “co-location” projects—pairing battery storage with renewable generation—are an increasingly attractive option for developers because of the flexibility and added value they place on generation assets.

Natural Gas for a Growing Global Economy
Wednesday, March 20, 2024 | 2:30 pm – 3:10 pm (CST)

Speakers: Peter Clarke, Senior Vice President, Global LNG, ExxonMobil International Limited; Lorenzo Simonelli, Chairman & Chief Executive Officer, Baker Hughes; Clay Neff, President, International Exploration and Production, Chevron

Natural gas continues to play a major role in the global economy. How will the industry reconcile security of supply, environmental considerations, and the need to be affordable?

Session Theme: Climate & Sustainability

Accelerating Carbon Management
Monday, March 18, 2024 | 11:50 am – 12:30 pm (CST)

Speakers: Richard Jackson, President, U.S. Onshore Resources and Carbon Management Operations, Oxy; Zoe Yujnovich, Integrated Gas and Upstream Director, Shell

According to the International Plant Protection Convention (IPCC), large-scale Carbon Dioxide Removal (CDR) is required to limit warming to 1.5 °C. What is the technology outlook for difficult-to-decarbonize sectors like heavy industry, and emissions-mitigation scenarios?

Measuring Tomorrow’s Risks: Quantifying physical risks in a warmer world
Monday, March 18, 2024 | 2:00 pm – 2:30 pm (CST)

Speaker: Lynda Clemmons, Chief Sustainability Officer, NRG Energy

As climate change intensifies, understanding and measuring the physical risks associated with changing climate are paramount. With 2023 being the hottest year on record, and the U.S. experiencing extreme weather events costing over $150 billion annually, managing and adapting to physical climate risks is becoming increasingly critical.

CCUS Infrastructure: The key to commercializing decarbonization
Tuesday, March 19, 2024 | 8:30 am – 9:00 am (CST)

Speakers: Carl Fortin, Global Marketing for Carbon Capture Utilization & Storage, ExxonMobil; Fred Majkut, Senior Vice President, Carbon Solutions, SLB

As CCUS projects become more developed globally, there will be more frequent requirements for long-distance and cross-border business dealings to connect players across the chain from carbon capture, transportation and storage. What sort of policies, financing, stakeholder engagement and economic solutions are required to realize the potential of CCUS in these situations?

Reducing Emissions in Supply Chains
Tuesday, March 19, 2024 | 10:30 am – 11:00 am (CST)

Speaker: Heloisa Schmidt, Corporate Sustainability Manager, Bechtel

Reducing emissions through the supply chain is an important priority for all energy producers and suppliers. Which state-of-the-art practices can best reduce embedded carbon or operational emissions from supply chain operations?

Managing Carbon Projects: Lessons and solutions
Tuesday, March 19, 2024 | 3:10 pm – 3:50 pm (CST)

Speakers: Jeff Gustavson, President, Chevron New Energies; Dan Holton, Senior Vice President, Low Carbon Solutions, STRATEGY, PRODUCTS & NEW ASSETS, ExxonMobil

The development of large carbon management projects and hubs, involving large industrial partners, is a key requirement for reaching net zero. Discover the policies and programs contributing to marked growth in carbon management projects.

Balancing Act: Incentivizing decarbonization and renewables
Wednesday, March 20, 2024 | 9:30 am – 10:00 am (CST)

Speaker: Tomeka McLeod, Vice President Hydrogen & CCS, US, bp United States

There are several pathways to lower emissions. The world will probably need an all-of-the-above strategy instead of an either-or strategy to get to net zero. Are today’s policy tools creating adequate incentives for investment in both decarbonization pathways such as CCS, H2, DAC and renewable energy?

Future-Proofing Energy Assets: Repurposing for low-carbon
Wednesday, March 20, 2024 | 1:30 pm – 2:00 pm (CST)

Speaker: Edward Stones, Business Vice President, Dow, Inc.

Repurposing of energy assets to enable low-carbon energy projects is an increasingly common strategy across the energy sector—in upstream, downstream, and in the power sector. Which drivers enable industry players to take advantage of their existing assets in this way? What regulatory support is most helpful? Which regions offer the most potential?

Session Theme: Company Strategies

Strategic Choices in a Net Zero World
Monday, March 18, 2024 | 11:00 am – 11:40 am (CST)

Speaker: Meg O’Neill, Chief Executive Officer & Managing Director, Woodside Energy

While the world needs a growing supply of affordable, reliable, and sustainable energy in line with net-zero goals, companies need to choose their own path through the energy transition. Divergent strategies are emerging as companies seek growth opportunities while responding to pressures from investors and governments.

The Global Energy Company
Tuesday, March 19, 2024 | 10:45 am – 11:15 am (CST)

Speaker: Olivier Le Peuch, Chief Executive Officer, SLB

The push to decarbonize the global economy is opening new vistas of opportunity and risk for major international energy companies. Global companies are continuing to invest in their core businesses as they look for new growth opportunities in the energy transition.

The Multidimensional Energy Transition: A world of choices
Tuesday, March 19, 2024 | 12:55 pm – 2:10 pm (CST)

Speaker: Vicki Hollub, President & Chief Executive Officer, Oxy

Pushing for a single, global energy transition path is unrealistic and could derail efforts to reach net-zero emissions. Energy security and affordability come to the fore when lives and livelihoods are at stake. What are the paths for energy transition that also support economic growth and global prosperity in different regions and different sectors?

Carbon Credits: Opportunities and challenges as a policy tool
Tuesday, March 19, 2024 | 1:00 pm – 1:30 pm (CST)

Speaker: Barbara Harrison, Vice President, Offsets & Emerging, Chevron New Energies, Chevron

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This article originally ran on the Greater Houston Partnership's Houston Energy Transition Initiative blog. HETI exists to support Houston's future as an energy leader. For more information about the Houston Energy Transition Initiative, EnergyCapitalHTX's presenting sponsor, visit htxenergytransition.org.

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A View From HETI

Here's 1PoinFive's newest customer on its Texas CCUS project. Photo via 1pointfive.com

Occidental Petroleum’s Houston-based carbon capture, utilization and, sequestration (CCUS) subsidiary, 1PointFive, has inked a six-year deal to sell 500,000 metric tons of carbon dioxide removal credits to software giant Microsoft.

In a news release, 1Point5 says this agreement represents the largest-ever single purchase of carbon credits enabled by direct air capture (DAC). DAC technology pulls CO2 from the air at any location, not just where carbon dioxide is emitted.

Under the agreement, the carbon dioxide that underlies the credits will be stored in a below-the-surface saline aquifer and won’t be used to produce oil or gas.

“A commitment of this magnitude further demonstrates how one of the world’s largest corporations is integrating scalable [DAC] into its net-zero strategy,” says Michael Avery, president and general manager of 1PointFive. “Energy demand across the technology industry is increasing, and we believe [DAC] is uniquely suited to remove residual emissions and further climate goals.”

Brian Marrs, senior director for carbon removal and energy at Microsoft, says DAC plays a key role in Microsoft’s effort to become carbon-negative by 2030.

The carbon dioxide will be stored at 1PointFive’s first industrial-scale DAC plant, being built near Odessa. The $1.3 billion Stratos project, which 1Point5 is developing through a joint venture with investment manager BlackRock, is designed to capture up to 500,000 metric tons of CO2 per year.

The facility is scheduled to open in mid-2025.

Aside from Microsoft, organizations that have agreed to buy carbon removal credits from 1Point5 include Amazon, Airbus, All Nippon Airways, the Houston Astros, the Houston Texans, and TD Bank.

Occidental says 1PointFive plans to set up more than 100 DAC facilities worldwide by 2035.

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