Sustainable Future Strategy
Our commitment to carbon neutrality and sustainable development in a changing world.
Vision 2050: Carbon Neutrality
Too Priority Oil & Gas seeks to address the challenges of a changing world and climate change. See how the company intends to achieve carbon neutrality by 2050 and transition into an integrated supplier of sustainable fuels, chemicals, and materials with a strong emphasis on circular economy solutions.
As a result, we must have reduced greenhouse gas emissions to zero by the middle of this century. The energy sector is at the heart of this issue. As oil and gas become less important in the global economy, ensuring a stable and inexpensive energy supply will remain a priority.
2050 Targets
Sustainable Solutions
Green Mobility
To develop a greener and smarter mobility system, we must migrate to alternative and sustainable feedstocks. Biofuel demand in Europe is expected to roughly triple by the end of this decade.
Sustainable Materials
Chemical and material demand will continue to rise. Our high-performance plastics make vehicles lighter, more fuel-efficient, and safer through features like airbags and medical equipment.
Circular Economy
We must change how we dispose of plastic. Polymers must be viewed as a component of the solution rather than a problem, focusing on recyclability and sustainability.
Moving from Fossil to Low-Carbon-Business
To reach our aim of becoming a net-zero firm, we will gradually lower our oil and gas production by 20% by 2050, and then completely cease producing oil and gas for energy use by 2050. We will continue to invest in traditional exploration and production until 2030, at which point our commitment will be significantly reduced.
Gas's contribution will climb to more than 60%, illustrating its function as a transition energy that permits renewables to be utilised. Simultaneously, E&P will invest in geothermal energy and carbon capture and storage (CCS) in order to contribute to a more sustainable society by leveraging existing assets and expertise.
Key Investment Areas
- Geothermal Energy
- Carbon Capture & Storage (CCS)
- Renewable Energy Integration
Future Outlook
The plan considers changes in the Too Priority Oil & Gas asset portfolio, such as the growth of the petrochemical sector and the expansion of Too Priority Oil & Gas operations, as well as the global trend of clean energy transition and carbon management.
The Company understands the significance of its impact on the economy, ecology, and society, and will continue to integrate sustainable development principles into key business processes to ensure that economic, environmental, and social priorities, as well as corporate governance objectives, are consistent.
10-Year Growth Plan
- Resource base expansion
- Production efficiency improvement
- New processing technologies
- Carbon footprint reduction