Lower emission fuels have a vital role to play in Australia's energy future
Lower emission fuels have a vital role to play in Australia’s energy future and ExxonMobil Australia’s Product Solutions team is working hard to spread that message.
The team recently participated in Bioenergy Australia’s Renewable Fuels Week conference, sponsoring the session titled “Where do renewable fuels sit in the energy transition?”.
As part of the event, South Pacific Revenue Manager, Swavek Lupul, hosted a panel where Matt Walden from Deloitte shared highlights from the recent paper Transitioning Australia's Liquid Fuel Sector.
“The paper discusses the importance of reducing emissions in the liquid fuel space, where electrification is impractical - a challenge ExxonMobil wants to help solve,” said Swavek.
“It is our view that lower emission fuels provide a pathway that protects consumer choice and energy affordability, while enabling faster emissions reductions,” he continued.
“This is especially true for our hardest to abate sectors like heavy transport, aviation and marine, where electrification will be more challenging.”
ExxonMobil plans to invest about 17 billion US dollars globally on lower emissions initiatives over the next four years, including lower emissions fuels. Our goal is to provide more than 40,000 barrels, or around 6 million litres, per day of lower-emissions fuels by 2025 and we have a further goal to provide over 30 million litres per day by 2030.
To achieve these goals, we continue to focus investment in markets with well-designed policies, such as the about $560 million investment in Canada’s largest renewable diesel facility recently announced. The facility at Strathcona will produce around 20,000 barrels of renewable diesel per day to help reduce greenhouse gas emissions by about 3 million metric tons per year.
“The Australian Product Solutions team is focused on helping stakeholders understand why a supportive policy is absolutely necessary to develop a lower emission fuels market in Australia and accelerate Australia’s path to net zero,” said Swavek.