Oil & Gas Regional Operations Electrification Estimations

Abstract

Emissions from Petroleum and Natural Gas systems accounted for 11.7% of greenhouse gas emissions reported to the EPA in 2022. [23] Oil & Gas companies in the United States are exploring ways to reduce their greenhouse gas footprint. One avenue being explored for emissions reductions is operation electrification. NextEra Energy is a leading renewable energy developer in the United States with a goal to help high emitting industries with their decarbonization goals. This paper explores the potential for NextEra Energy Resources, a segment of NextEra Energy, to support Oil & Gas companies in their emission reduction efforts. This potential partnership is explored through estimating a specific opportunity size for Oil & Gas operations electrification and identifying how NextEra Energy Resources can support these goals. To develop an estimation for potential electric need Oil & Gas combustion emissions were analyzed for specific industry segments in specific regions. This evaluation resulted in a megawatt opportunity for selected industry segments in selected regions. Within one selected region company specific opportunities were identified and wind mapping was conducted to determine the potential for wind development in the area. With the insights developed from this project NextEra Energy Resources can create a targeted approach for supporting Oil & Gas companies as they pursue their emissions reduction goals.