Although CEO Montri Rawanchaikul is aware of the financial need for reliable energy sources, he promises that the company will generally keep the environment in mind.
One of PTT Exploration and Production Plc’s( PTTEP ) main goals, according to Chief Executive Officer Montri Rawanchaikul, is to find ways to lessen the environmental impact of its operations, particularly by lowering carbon dioxide emissions.
At PTTEP, Mr. Montri has been a driving force behind efforts to cut carbon dioxide emissions and open the door for environmentally friendly methods.
- Best Director in Sustainable Energy Visionary Leadership
- PTT Exploration and Production Plc’s CEO, Montri Rawanchakul
Mr. Montri acknowledged that the company still needs to find enough energy to support the Thai business, but he cautioned against ignoring the environmental impact of this effort.
Mr. Montri has assisted the company in promoting projects to reduce carbon dioxide emissions, looking for new alternative & nbsp, energies, and paving the way for operations to be more sustainable as someone who sets policies and strategic plans for PTTEP.
One such initiative is creating Thailand’s first carbon capture and storage ( CCS ) facility at the Arthit gas field in the Gulf of Thailand, one of many initiatives to assist the government in reducing carbon dioxide emissions.
According to Mr. Montri, the CCS project is in line with the company’s efforts to combat global warming as well as the environmental, social, and corporate governance ( ESG ) principles, which support business growth and environmental and societal preservation.
A set of requirements known as ESG is said to be capable of promoting business sustainability.
According to Mr. Montri,” we anticipate the CCS job to keep up to 1 million kilograms of carbon dioxide during oil output at Arthit within 2027.”
The project’s initial front-end engineering and design period has already been finished by the business. The CCS ability is anticipated to begin operations by 2027.
Because the ground in the Gulf of Thailand is a fall area, which is suitable for the storeroom of carbon dioxide, there is significant potential to save it, amounting to about 40 million tonnes per year.
According to Mr. Montri, PTTEP is also working with five French and North Korean businesses to produce clean hydrogen in Oman.
Water molecules are broken down into oxygen and hydrogen using electricity generated from solar energy to produce clean hydrogen, which is used to fuel manufacturing and power generation processes.
This task demonstrates that the business is not just interested in the exploration and production of gas; it is also looking for fresh ways to develop new sources of energy.
PTTEP and its partners received a 47-year yielding to produce clean hydrogen at Block Z1 – 02 in Dugm, eastern Oman, as part of an agreement they made with Hydrom Ocean SPC, an entity that is governed by the OMAN state.
With an estimated 220,000 tonnes of hydrogen produced every, the manufacturing facility, which will run on 5 gigawatts of solar and wind energy, is scheduled to open in 2030.
These two initiatives show that PTTEP is putting more of an emphasis on its businesses’ environmental concerns, which will help the authorities successfully launch a battle to combat global warming.
Thailand declared at the 26th UN Climate Change Conference, held in Glasgow in 2021, that it is committed to achieving carbon neutrality— a balance between carbon dioxide emissions and absorption — by 2050 and a net-zero target of balancing emissions of greenhouse gases and absorbtion by 2065.
In accordance with the EP Net – Zero 2050 principle, PTTEP also has a program that aims to reach net-zero levels by the end of the year.
According to Mr. Montri,” The CCS and clean hydrogen projects will help PTTEP’s economic efforts, promoting a low-carbon society in Thailand and the rest of the world.”
In the future, PTTEP’s work may be heavily reliant on increased environmental protection.
According to Mr. Montri,” The company will continue to increase its investment in natural gas production, but at the same period, it will also add the greenhouse gas emission issue into the decision-making process of fresh gas projects.”
Federal strength security is crucial to sustaining the nation’s economy, but it must be developed sustainably, which will be made possible by better economic management, he said.