The energy transition is on in our industry. I share with you a CNBC video on geothermal energy which I recommend you watching.

There are so many common domains between oil & gas and geothermal that it does make sense for the hydrocarbon industry to consider geothermal as another alternative and viable source of clean energy, with some emerging technologies (EGS, AGS…) kicking in, being developed by few companies founded in mid 10’s, this century.

Geothermal has been around for over 100 years but limited to a pool of countries where this source of clean underground energy exists in unique geographic sites. Its weight on the global energy mix is very low. With due enabling technologies to further lower cost, and proper financing, geothermal energy can easily gain scale. It is the type of energy source that is available 24/7, while wind and solar are not.

US is the largest user of geothermal energy in the world.

A couple of major IOC’s are now investing in geothermal. Despite the great availability of funding for wind and solar energy projects today, profitability is still low, and this could be another area where geothermal could compete.
#renewableenergysystems #cleanenergy #geothermal #oilandgasindustry