Energy market trends: sustainability shift and new chemical solutions

Let's dive into the latest energy market trends and sustainability innovations

March 11, 2024

Raul Antonio Di Toto

In the ever-evolving landscape of the energy market, new trends and needs are shaping the way forward. From geopolitical uncertainties to the need for sustainability, the industry is currently at an important turning point. In this exclusive interview with Raul Antonio Di Toto (Italmatch Chemicals Global Marketing Director, Oil & Gas), we will explore the latest market trends and how Italmatch is addressing sustainability topics with its solutions:

Energy market trends and renewables energies growth
Italmatch’s approach and guiding principles towards sustainability in the energy sector
Italmatch’s sustainable technology platforms
Recent innovations from the Italmatch Team

What are the latest market trends in the energy sector?

“The Ukraine crisis starkly highlighted vulnerabilities within the global energy supply chain, emphasizing the urgent need for resilience, diversification, and sustainable practices to ensure a reliable and stable energy future amidst geopolitical uncertainties.

Initially, reliability took precedence over sustainability, particularly in countries heavily reliant on Russian hydrocarbon exports. Responding swiftly, the EU decreased its share of Russian gas supply from 47% in 2019 to approximately 10% in 2023. While hydrocarbons remain pivotal for energy security, diversifying sources— including sustainable energy— will be crucial for the energy transition and independence”.

“The global energy crisis has accelerated momentum behind renewables, with projections indicating that renewable power capacity will nearly double in the next five years, surpassing coal as the primary source of electricity generation by early 2025. According to the IEA and the Net Zero Scenario, solar, hydropower, and wind will be the leading contributors to renewable energy growth.

The world has become more educated on sustainability topics, developing concepts such as just transition, that recognizes that transitioning to a more sustainable energy future encompasses more than reducing carbon emissions and mitigating climate change; it also entails ensuring fairness, equity, and social justice for all individuals and communities affected by the transition”.

Source > Russia’s War on Ukraine – IEA

How is Italmatch working to tackle sustainability challenges with its energy solutions?

“The Oil and Gas Solutions business unit has long been committed to enhancing the sustainability of our chemistries and solutions.

In our relentless pursuit of innovation, aligned with ESG objectives, we proudly support the Oil and Gas industry in its journey towards emissions reduction and the transition to a sustainable, decarbonized economy, bolstered by diversified energy sources”.

“Our approach is anchored in three core principles:

1) Environmental responsibility: We are dedicated to minimizing the environmental impact of our chemical solutions on oceans and groundwater. Through close collaboration with clients and regulatory institutions, we adhere to the highest industry standards for environmental protection and safety.

2) Circular economy initiatives: We actively invest in ambitious projects aimed at transforming waste materials into high-value specialty products. Embracing the principles of a circular economy, we strive to maximize resource efficiency and minimize waste generation throughout our operations.

3) Carbon footprint reduction: Our commitment to reducing the CO₂ footprint of both our chemicals and operations is unwavering. We lead the charge in pioneering the conversion of inefficient chemical treatments, traditionally reliant on petroleum derivatives, to new, readily biodegradable alternatives. These innovative solutions not only significantly reduce CO₂ emissions but also decrease the overall demand for chemicals by a factor of ten”.

What are the key applications the Italmatch portfolio focus on?

“Our innovation platform for the energy industry seamlessly integrates with our sustainability initiatives, reflecting our commitment to embedding sustainability within our vision for innovation.

Our suite of sustainable technology platforms includes scale management, low-dosage hydrate inhibitors, asset protection, hydrocarbon leak management, and renewable energies, showcasing our dedication to advancing environmentally responsible solutions across the whole energy sector”.

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What are the latest developments from the Italmatch Team?

“There is much to discuss regarding our innovations, yet we collectively recognize two technology segments poised to revolutionize the energy industry by enhancing sustainability.

Firstly, our environmentally friendly Low-Dosage Hydrate Inhibitors (LDHIs) hold immense potential to gradually replace traditional Thermodynamic Hydrate Inhibitors (THIs). Unlike THIs, LDHIs offer superior effectiveness while significantly reducing carbon footprint and risks for workers, positioning them as a key technology for sustainable energy practices.

Secondly, our induced scale formation technology is engineered for various applications such as zonal isolation/water shut-off, and Plug & Abandonment (P&A). This innovative approach involves creating an additional permanent barrier in the formation but not in the well tubing, with potential applications extending to Carbon Capture & Storage processes. Notably, our P&A program has been certified to achieve a remarkable 68% reduction in carbon footprint compared to traditional cementing applications.

We firmly believe that these solutions will become increasingly integrated into a more sustainable Oil & Gas industry in the years ahead, driving positive change and fostering a greener energy landscape“.