SS03 Geothermal by Leveraging Oil and Gas Innovation and Managing Induced Seismicity
Monday, 3 October
Low and high-enthalpy geo-energy for direct-use and power generation is experiencing a resurgence in interest and investment as technology and cost learnings as industry and governments look for low-carbon alternatives to oil and gas production. As companies and governments increasingly commit to lower emission futures, geothermal provides a unique and potentially largely untapped resource option to provide the world with reliable low emission heating, cooling and power. Oil and gas technology and practices provide promise to lower capital requirements, reduce risk and expand scalability. Over 65% of hydrocarbon in Europe are utilized for heating purposes. How can geothermal helps support the heating needs of these heavily populated areas and elsewhere around the world? The first half of this session examines the current state of the geothermal heating and cooling industry and with a look ahead at the technologies, policies and investments needed to expand the use of geothermal energy to meet the world’s heating and cooling needs. But can the oil and gas industry really transform geothermal or is it hype? In the second half of the session, experts from the geothermal and oil and gas industry debate how oil and gas practices can apply to geothermal but also what geothermal can teach the oil and gas industry.
Jamie Beard, Executive Director - The Geothermal Entrepreneurship Organization at The University of Texas at Austin