Project Management Blog (HRM): Emissions-reduction Projects Of Repsol In Spain

Introduction of the emissions-reduction projects of Repsol in Spain Goal and objectives. Repsol's emissions-reduction project in Spain and operating time. Conclusion. References.

To reduce the negative consequences of climate change, the world will have to get the net zero carbon emission in the coming years. In other to meet the goal of net-zero emissions, it requires a tremendous transformation of electricity production and consumption (Union of Concerned Scientists, 2016). Following that ambition, Repsol, a large oil and gas company in Spain, has evaluated the company's role in climate change with the contribution to the objectives in the Paris Climate Agreement in 2016 (United Nations Climate Change, 2016) and the United Nations Sustainable Development Goals (United Nations, 2018).

Repsol's emissions-reduction project in Spain and operating time

Regarding the press released in June 2020, Repsol CEO Josu Jon Imaz stated in the kick-off meeting of the emissions-reduction project making the Spanish industry "become a leading European player in reducing emissions" (Imaz, 2016) and achieve net-zero emission by 2050 (Repsol Global, 2020). The project utilizes the most up-to-date technological and innovative initiatives to generate net-zero emission fuel using carbon dioxide captured from a nearby refinery and hydrogen produced by renewable energy.

The object is slated to be completed and put into operation in four years and will be capable of producing about 50 barrels of synthetic fuel every day and processing 10,000 tons of urban waste per year (Repsol Global, 2020). The timespan for project completion is 30 years (until 2050), which is divided into two phases. The first phase was kicked off in June 2020 and is expected to be completed in 2024 with an initial cost of 60 million euros, which sets the prerequisite for the second phase of the project from 2025 (Repsol Global, 2020).