Low Carbon Energy Forum Launched at UIBC 2024

An offshoot of the IPA Carbon Working Group (CWG), the Low Carbon Energy Forum was launched at IPA’s Upstream Industry Benchmarking Consortium annual meeting in November 2024 (UIBC 2024). The CWG was formed in April 2020 to align on a project-level greenhouse gas (GHG) performance benchmarking framework and identify Best Practices to meet GHG targets. This new energy sector-specific forum fills a need for a deeper dive into topics that are urgent and relevant for hydrocarbon and energy producers.

The Low Carbon Energy Forum will primarily focus on understanding the different approaches to integrate low-carbon practices into E&P project organizations’ existing frameworks. IPA has worked with CWG members over the last 4 years to define, measure, and align on these Best Practices that drive low-carbon, low-cost performance of E&P projects. Another focus area will be to expand the discussions to understand Best Practices and performance to deliver enabling projects, such as carbon capture & storage (CCS), electrification, and use of renewable power to deliver low-carbon performance.

This forum will follow in the CWG’s footsteps as a collaborative, informal network of industry experts who are passionate and knowledgeable about delivering low-carbon projects. We want to continue the discussions that started in 2020 and to address the more challenging and exciting issues on our decarbonization agenda today.

The newly formed Low Carbon Energy Forum will develop practical, relevant, and effective solutions to improve the performance of current project systems and individual projects by:

• Creating a collaborative community of owners to share ideas and challenges about decarbonization and learn from each other
• Promoting the use of Best Practices
• Developing new frameworks to assist senior leadership with managing their carbon budgets at a portfolio level
• Creating an enduring continuous improvement effort within our project systems

This forum is for companies that do offshore and onshore projects, including all concepts and project sizes. Carbon competitiveness efforts at both the individual project and portfolio level are included. The first forum meeting will be held in January 2025 and the agenda will reflect topics of interest identified by forum members in a December 2024 questionnaire.