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Large-scale investment in oil & gas infrastructures to remain crucial even in medium to long-term

Oil&Gas Materials 22 December 2021 11:00 (UTC +04:00)
Large-scale investment in oil & gas infrastructures to remain crucial even in medium to long-term

BAKU, Azerbaijan, Dec.22

By Leman Zeynalova - Trend:

Large-scale investment in oil and especially in gas infrastructures will remain necessary even in the medium to long-term, Trend reports with reference to “2021 SHAPING A NET-ZERO FUTURE" issued on Saipem website.

Compared to last year’s outlooks, two technology breakthroughs are forecasted as increasingly important to accelerate the energy transition: CCUS (Carbon Capture Utilisation and Storage) and Green Hydrogen, says the company.

"To accomplish the challenging estimates of a Net-Zero world, all scenarios gave plenty of room to CCUS in their revised Outlooks. Hydrogen plays an increasing role as the world transitions to a low-carbon system. In all the scenarios analyzed, oil is expected to remain a part of the energy mix in the near future, while gas will play a key role across different scenarios as a source that will be able to drive the transition towards a more sustainable energy mix. In this context, large-scale investment in oil and especially in gas infrastructures will remain necessary even in the medium to long-term and we expect traditional clients to continue to invest in long-term strategic projects, especially in some key regions, such as the Middle East and Africa. Due to the current situation, their focus has been accelerated towards cutting-edge technology solutions with a lower carbon footprint, representing a significant opportunity for Saipem," said the company.

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