Carbon capture to play key role in Mol strategy

The Hungarian oil and gas firm aims to build a business on the back of not only its own carbon emissions, but also those of third parties

Mol’s late February update of its long-term strategy towards moving “profitably towards net zero” foresees the firm becoming a “key player in the low-carbon circular economy in Central and Eastern Europe”. And part of the vision is the firm leveraging its existing carbon capture, utilisation and storage (CCUS) expertise in the region, upstream chief Berislav Gaso tells Transition Economist. His division has ambitions to reduce its scope 1 and 2 emissions—across not just its European assets that fall under the scope of the EU ETS, but also in the global portfolio—to zero by 2030. Gaso sees three key challenges: cutting flaring, decarbonising required power generation and minimising venting. “