About the Workshop
The oil and gas industry has made several technological leaps in recent years and the implications of the associated cost advantages could be a powerful catalyst to promoting the scalability of the geothermal industry by lowering capital requirements and reducing risk.
As companies and governments increasingly commit to lower emission futures, geothermal energy provides a unique, and potentially largely untapped, resource offering the world reliable and flexible low emission heating, cooling and baseload power.
Skills, technology and collaboration from across the oil and gas and geothermal sectors can significantly increase the scope and applications of geo-energy. As global populations grow, geothermal energy can decarbonize agricultural, industrial and building heating and cooling, an important cornerstone of the energy transition.
With renewables, particularly solar and wind, increasingly entering the electricity market, the variability in electricity is projected to grow by 50% to 2030 in the United States and to double in India, for example, putting severe strains on power systems, as evidenced by blackouts seen in California in 2020. Cross-over technologies and ways of working with the oil and gas sector could help support and expand the innovation embedded at the heart of the geothermal sector to provide renewable, low-carbon baseload power to the world.