Baker Hughes CEO Shares Energy Transition Truths

Here is the low-hanging fruit within reach to help reduce global emissions, according to Baker Hughes CEO Lorenzo Simonelli during a recent energy transition conference.

Baker Hughes CEO Shares Energy Transition Truths

“Efficiency is the unsung hero of reducing global emissions,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes Co. during Reuters’ recent Global Energy Transition Conference. (Source: Hart Energy, Baker Hughes Co.)

NEW YORK—Hopes are high on the ability of carbon capture, hydrogen and other technologies to move the world closer to net-zero goals, but there is also low-hanging fruit within reach, according to the CEO of a global energy technology company.

“Efficiency is the unsung hero of reducing global emissions,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes Co. “According to the IEA [International Energy Agency], if today’s oil and gas operations were 10% more efficient, we would save approximately 500,000 tons of CO₂ per year.”

Energy efficiency was one of the three “undeniable truths about the energy transition” that Simonelli focused on during Reuters’ recent Global Energy Transition Conference. Agreement on these so-called truths—which also include investment and innovation along with partnerships and collaboration—can help accelerate moves toward net-zero by 2050 while prioritizing energy security, he said.

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Velda Addison

Velda Addison is the senior editor of digital media for Hart Energy’s editorial team. She covers energy with a focus on renewables.