Countries in the AP region are at different stages of economic development; but will collectively demand more energy in the coming decades as income rises with development.
That is where ExxonMobil can continue to add value, with our decades of experience and technical capabilities in delivering solutions at scale. Beyond fuels, lubricants and petrochemicals, we are also developing technologies that can lower emissions in our operations and for industry.
Energy Factor speaks to ExxonMobil Asia Pacific Chairman and Managing Director Geraldine Chin about how the company can help accelerate change and its 130th year milestone in Singapore.
Energy Factor: How would you describe ExxonMobil’s role in the energy transition?
Geraldine Chin: We are working to solve the “and” equation: Meeting the world’s needs for energy and essential products and reducing emissions, both our own and others’.
A lower-emission future requires multiple solutions implemented at scale. Our combination of technology, integration and expertise make us uniquely positioned to provide new solutions at scale for industry.
EF: Which sectors would benefit from the solutions that ExxonMobil is working on?
GC: The majority of energy-related emissions come from heavy industry, such as steel and cement, manufacturing, power generation, and commercial transportation. These industries form the backbone of economic development and their emissions are among the hardest to abate.
We believe that the solutions we’re advancing, such as carbon capture and storage (CCS), hydrogen, ammonia and lower-emission fuels, can help these businesses meet their emission reduction goals.
EF: Can you explain how some of these solutions might work?
GC: CCS is a technology where carbon dioxide (CO2) is captured, concentrated and transported to be safely and permanently stored deep underground.
ExxonMobil is studying the potential for CCS hubs to capture, transport and store CO2 from heavy industrial activity across the Asia Pacific region. We’re collaborating with industry and working with governments across the region.
We expect hydrogen to play an essential role in a low-carbon energy system, as it has the potential to be adopted across different sectors as a low-carbon fuel or feedstock. Hydrogen also does not release any greenhouse gases when it is utilized for energy.
Lower-emission fuels (LEF) which include renewable diesel and sustainable aviation fuel, are important for the commercial transportation sector.
The benefit of lower-emission fuels is that it is an engine-ready fuel. This means that the products can be used today, without requiring much capital investment. It’s an important solution that can reduce emissions today, even as other technologies are being developed and scaled up for the future.
In Singapore, we’ve supplied blended sustainable aviation fuels at Changi Airport. We also successfully completed several bio-based marine fuel oil deliveries in the port of Singapore. We also offer motorists renewable diesel, Esso Renewable Diesel R20, at selected Esso stations in Singapore.
EF: Looking ahead, what are the key aspects for a successful and sustainable transition towards net zero?
GC: The energy system is very large, so the challenge to reduce emissions across multiple sectors is enormous! To ensure a just transition, large, world-scale solutions need to be deployed at lower costs than today.
We believe that an “all of the above” approach will lead to the most cost-efficient solutions being developed in a timely manner.
Throughout our history, ExxonMobil has built industries and value chains where none previously existed.
What’s important to us is that we can play a leading role in the energy transition, and are working on solutions to reduce our emissions, and help others reduce theirs.
EF: Any thoughts on ExxonMobil’s 130th-year anniversary in Singapore?
GC: We in ExxonMobil are proud of being a part of Singapore for the last 130 years.
I’m proud of all the ExxonMobil employees, past and present, who have worked tirelessly to provide Singapore and the markets in the Asia Pacific with the fuel, lubricants, LNG and petrochemicals they need to enable modern living.
We’ve also been very much a part of the community, investing in education, the environment, including initiatives that support lower-income families. We also organize mobile blood donation drives, and are long-time supporters of awards that recognize social workers and educators who’ve gone above and beyond in their vocation. Together, we continue to build on our legacy in Singapore for the future.
I believe that our people are truly our greatest asset, and I’m excited for the great things that they’ll continue to achieve in the future as we lead in the energy transition.