The Oil and Gas Climate Initiative, a coalition led by chief executives of 10 large oil companies, has identified its first three investments in ventures aimed at lowering emissions of greenhouse gases.
Through OGCI Climate Investments, the coalition plans to invest $1 billion in low-emission technologies and projects over 10 years (OGJ Online, Nov. 4, 2016).
Due unspecified support from the OGCI unit are:
• Solidia Technologies, Piscataway, NJ, which developed a technology that lowers emissions from cement production and uses carbon dioxide rather than water to cure concrete.
• Achates Power Inc., San Diego, a developer of high-efficiency, opposed-piston vehicle engines designed to cut emissions.
• A project to design “a full-scale gas power plant with carbon-capture and storage, including industrial CO2 sequestration capability.”
OGCI member companies are BP PLC, China National Petroleum Corp., Eni SPA, Petroleos Mexicanos, Reliance Industries Ltd., Repsol SA, Royal Dutch Shell PLC, Saudi Aramco, Statoil ASA, and Total SA.
