Companies’ discussions on ‘Energy Transition’ on the rise, finds GlobalData

Amid geopolitical tensions, surging gas prices and energy shortages, more than 400 companies discussed ‘energy transition’ across their January-August 2022 filings, which is an increase of around 7% from 2021, according to GlobalData. The leading data and analytics company’s Filing Analytics Database reveals that the industries that discussed ‘energy transition’ and associated topics the most in their company filings include Oil & Gas, Power, and Financial Services.

Ekta Chourasia, Business Fundamentals Analyst at GlobalData, comments: “Oil and Gas companies are carving out their own energy transition paths by investing in technologies, initiatives, and partnerships to accelerate the shift towards green and renewable energy. Companies across other sectors, including the financial services sector, are also discussing investments in infrastructures as well as potentially collaborating with energy companies to support the energy transition.”

Oil & Gas companies are developing renewable energy solutions

Oil & Gas companies are discussing investing in technologies, developing renewable energy solutions, and shifting towards low carbon options like green hydrogen and renewable naphtha*. Oil producing companies such as Woodside Energy Group are looking at investing in lower carbon products and services. The Oil and Gas Methane Partnership 2.0 initiative from ConocoPhillips and the hydrogen-producing electrolyzer for wind power from Shell were some of the references for energy transition. California Resources, a hydrocarbon exploring company, discussed its partnership with Brookfield, an investment management company, which supports decarbonization initiatives. Midstream companies such as Enbridge discussed investment in Smartpipe technology.

Equipment and Service companies like John Wood Group discussed securing a project with Total Eren, a renewable energy producing company to develop a large-scale green hydrogen production facility. Air Products and Chemicals mentioned increasing its total capital expenditure for projects promoting energy transition. SBM Offshore, a provider of floating production solutions to the offshore oil and gas industry, mentioned decarbonization of fossil fuel production and the development of renewable energy solutions.

Power companies are also investing in low-cost renewable energy solutions

Power sector companies like Altus Power and Alliant Energy mentioned clean electrification and  Ballard Power Systems added low-cost renewable energy, energy security and long-term opportunities for hydrogen and fuel cells.

Financial Service companies are investing in infrastructure supporting energy transition

Companies in financial services like JPMorgan Global Core Real Assets mentioned investments aligned with reducing carbon footprints, while Carlyle Group and BlackRock discussed significant investments in infrastructure supporting energy transition.

* Renewable naphtha is a by-product that refineries currently make when they turn renewable feedstock into diesel. It is an intermediary product that can be converted to gasoline, polymers, or feedstock for the manufacture of hydrogen.

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