Hydrocarbons are incredible stores of energy but producing and transporting them also uses energy. With very often large production facilities and international distribution networks, the energy consumed in getting the right oil and gas products where they are needed is also large. Some of this large energy need is generated directly from the hydrocarbon products being produced. Used in various processes in the production, storage and transport of further fuels. Some excess hydrocarbon products are also released in flaring activities when there are no viable consumption routes or there are valid safety concerns. However, these energy-rich hydrocarbons are spent there are two clear costs.
The most obvious cost is that the fuel consumed has an inherent value. Less obvious is that using fuel creates emissions which also carries a cost. Paying for emissions by the tonne of Carbon Dioxide produced is now widespread. Under Cap & Trade or Emissions Trading Schemes, companies pay for their CO2 emissions or have to operate below often reducing limits. The amount of hydrocarbon used in compressors, heating or flaring all contributes to the carbon emissions of the production network. These emissions need to be measured and reported so only the right amounts of charges are faced and emissions limits are met.
It is not practical to capture the exhaust gases and directly measure the CO2 emitted from each combustion event. It is reasonable to measure the hydrocarbons going for fuel and flare use. These can be measured using the same well-controlled and accepted methods as the produced fuels. The used fuels are combusted and waste gases along with energy emitted. This combustion from fuels to wastes can be calculated and based on the carbon content, converted into emitted CO2 mass. Totalling all the hydrocarbons consumed by their final CO2 emissions allows for simple reporting of total CO2 emissions.
The CO2 tonnages from used hydrocarbons can be compared against budgets and allowances set for processes, sites and whole enterprises. With the CO2 emissions known any excess allowances may be traded for commercial gain. Alternatively, if below budgets for CO2 activity in the facility can be adjusted to optimum effect or tightened to ensure expensive punitive limits are maintained. All these options can be integrated into the reporting system once the consumed hydrocarbon is metered and the emissions are calculated.
Using established tools to measure accurately the fuel volumes used and their carbon content, testable open calculations can be used. The exact amount of CO2 emitted each day, month or quarter can be recorded and presented for audit and inspection to responsible bodies. By taking the lead in measuring and reporting CO2 from production hydrocarbon producers are able to demonstrate their reductions in emissions and the savings in energy and associated costs they are making.
We have been offering our emissions reporting feature since January 2021, serving as an important communication tool within companies that can boost the support of senior management for environmental monitoring. A failure to meet regulatory emission limits/overshooting regulatory emission limits can impact negatively and result in production losses, so it makes financial sense to meet environmental regulations within your assets.
Within TruST, emissions reports are auto-generated, and you will receive all of your current totals, hourly reports, daily reports, and CO2 monthly reports.
Find out more information about Emissions Reporting here.