Mr. Atthaphon Rerkpiboon, Chief Executive Officer and President, PTT Public Company Limited (PTT) revealed that PTT has announced its intentions, the PTT Group set short-term to long-term goals. Aims to reduce greenhouse gas emissions by 15% by 2050 or 2030, achieve the Carbon Neutrality goal by 2040, and reduce net greenhouse gas emissions (Net Zero) or Net C. Ro by 2050, faster than Thailand’s target
Strategic plans have strategies. Indicators and action plans to support Ready to join forces with the business strengths of the group PTT has established a net zero greenhouse gas emissions working group (PTT Group Net Zero Task Force or G-NET) to formulate a proactive strategy. Reduce greenhouse gas emissions in 3 main approaches (3P) i.e. Pursuit of Lower Emissions or the reduction of greenhouse gas emissions in the process to the maximum. through key projects such as Carbon Dioxide Capture and Storage (CCS) in the Gulf of Thailand and areas on the coast in the east
“Under the cooperation of PTT Group CCS Hub Model that mobilizes PTT Group’s technology to manage emissionsgreenhouse gasTogether, Carbon Dioxide Optimization (CCU) builds on products to reduce emissions into the atmosphere. production improvement to increase energy efficiency in natural gas separation plants.”
PTT is confident that these methods will reduce greenhouse gas emissions by up to 30% of total greenhouse gas emissions, while Portfolio Transformation is to increase investment proportions with a focus on clean energy businesses. and growth in new business beyond energy in accordance with the change in vision by setting a 10-year long-term target ratio of 32% of the investment budget which will be an important mechanism to reduce greenhouse gas emissions by up to 50%, etc.
While since 1994, PTT has restored 1.1 million rai of degraded forests across the country. Currently, these forest areas are still 80% complete, absorbing up to 2.14 million tons of carbon dioxide equivalent per year. Create economic benefits for the community at 280 million baht per year, which PTT Group has focused on planting additional forests, totaling 2 million rai by 2030, divided into 1 million rai in PTT and cooperation with companies in the PTT Group 1 million rai
“Energy prices in 2023 are likely to improve. It is expected that the price of crude oil next year will move in the range of 85-90 US dollars per barrel. which may affect the economy of Thailand Less than this year, it is expected that oil prices at the end of this year will move in the range of $90-100.”
Recently, the world’s largest oil producer and exporter (OPEC) is trying to cut production. As a result, the world oil price rose. As the economy slows causing consumption demand to decrease causing the world market price to decline during the same period, both factors resulted in the price increase. or decreased volatility, but PTT has a plan to build energy security By stockpiling legal oil during the intense Russo-Ukrainian war since last month. Last February, a total of 4 million barrels, which are now gradually being used. because he thinks that the shortage factor will not happen.