Who are the leading innovators in carbon dioxide capturing for the oil and gas industry?
In the last three years alone, there have been over 534,000 patents filed and granted in the oil & gas industry.
Not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilising and reaching maturity.
Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.
According to GlobalData’s technology foresights, which plots the S-curve for the oil and gas industry using innovation intensity models built on over 256,000 patents, there are more than 40 innovation areas that will shape the future of the industry.
Within the emerging innovation stage, carbon capture metal-organic frameworks and biogas carbon capturing are disruptive technologies that are in the early stages of application and should be tracked closely. Methane capturing, natural gas carbon dioxide capturing and flue gas treatment are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are bio-fuels and aviation bio-fuels, which are now well established in the industry.
Carbon dioxide is essentially captured before it enters atmosphere. This can be done either at pre-combustion stage, or post-combustion stage. One more method is capturing carbon dioxide from oxy-combustion process.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 40+ companies, spanning technology vendors, established oil and gas companies, and up-and-coming start-ups engaged in the development and application of natural gas carbon dioxide capturing.
Exxon Mobil, a leading patent filer, has successfully captured 120 million metric tons of carbon dioxide. The company has also collaborated with University of California to design and develop a new metal-organic framework material for carbon dioxide capturing.
Air Liquide Engineering and Construction, another key patent filer, uses a Cryocap that operates under low temperatures to reduce carbon dioxide emissions by 90% during hydrogen production while simultaneously boosting the production of hydrogen by 20%.
Honeywell International is using its technologies to capture 1.7 million tons of carbon dioxide annually from a gasification plant, while simultaneously producing clean hydrogen energy.
Carbon dioxide capturing is increasingly becoming a necessity for many oil and gas companies as they continue to seek to reduce emissions from their operations. New innovations and technologies in carbon dioxide capturing will help companies to cut dangerous emissions and mitigate climate change.