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The oil refining industry, one of the many carbon-emitting industries, has decided to make active efforts to achieve ‘2050 carbon neutrality’.
According to the Ministry of Trade, Industry and Energy on the 11th, SK Innovation[096770], GS Caltex, S-Oil, and Hyundai Oilbank launched the’Carbon Neutrality Council’, a public-private consultation at the El Tower in Seocho-gu, Seoul, and discussed strategies for promoting carbon neutrality.
Starting with steel last month, the government has formed a carbon neutral council with various industries such as petrochemicals, cement, semiconductors and displays, and non-ferrous metals to hold meetings.
The oil refining industry has annual carbon emissions of about 32 million tons as of 2019, accounting for about 6% of the total industrial emissions. It is the fourth largest after steel, petrochemical and cement.
In a presentation on the subject, Jae-gyu Lim, a senior research fellow at the Korea Energy Economics Institute, diagnosed, “The refining industry is the 6th largest export industry in Korea with the world’s 5th refining capacity, but serious difficulties are expected in the process of promoting carbon neutrality”
He then suggested that “in addition to the industrial advancement through technological innovation and the existing reduction measures, it is necessary to prepare additional alternatives.”
The Korea Petroleum Association is responsible for energy savings through heat integration in refineries and industrial complexes, the conversion of high-carbon fuel (BC oil) to low-carbon fuel (LNG), and the capture of carbon dioxide emitted during the manufacturing process. Introduced reduction efforts.
At the same time, it was evaluated that efforts such as blue hydrogen production, CCU (carbon dioxide capture and utilization) technology development and application, new and renewable energy use, and eco-friendly business diversification are necessary for additional carbon reduction and carbon neutrality in the future.
Chung Dong-chae, chairman of the Petroleum Association, said, “Last year, due to the decline in oil demand due to Corona 19, the domestic oil refining industry recorded the largest operating loss (about 4.6 trillion won). Goal”.
He said, “Even so, we will come up with various measures that are sustainable and can contribute to carbon neutrality,” he said. “Please ask the government to actively support the industry’s carbon neutral technology development and facility investment.”
In addition, the oil refining industry requested government support for the introduction of next-generation biofuels and the use of eco-friendly raw materials in the oil refining process. Accordingly, the government decided to form a separate task force (T/F) with industry and experts to review technology level, quality, and safety.
Regarding carbon neutrality, the government focuses on five core tasks, including organizing and operating public-private councils for each industry, promoting large-scale R&D projects, and special tax, finance, and regulations in the industrial field.
In the energy sector, based on the ‘2050 Carbon Neutral Scenario’ currently being prepared, the’Energy Carbon Neutral Innovation Strategy’ is established by the end of this year. In particular, it is planning to prepare a separate roadmap for developing carbon-neutral technologies specialized in the oil refining industry.
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