MOL Group has announced the launch of its new “Low Carbon and New Energies” branch within its Exploration & Production division with the goal of developing sustainable energy solutions. The new branch, based in Zagreb, aims to strengthen the company’s efforts in developing low-carbon industry solutions.
This new organisation is tasked with addressing the challenges of sustainability and launching new business processes focused on reducing carbon emissions as well as developing renewable energy initiatives. The organisation’s initiatives will concentrate on diversifying the group’s energy portfolio, reducing carbon dioxide and methane emissions and minimising environmental impacts.
Key areas under the Low Carbon and New Energies are geothermal energy production, a pilot project for lithium production, carbon capture and storage (CCS), and methane emission reduction.
Zsombor Marton, MOL’s Exploration and Production Executive Vice President, emphasised the importance of applying MOL Group’s expertise in traditional sectors and subsurface operations to achieve the decarbonisation goals outlined in the company’s recently updated strategy. “We are aware that addressing the challenges of our time requires sustainable energy solutions. (…) The establishment of the Low Carbon and New Energies organisation underscores our commitment to environmental responsibility,” he stated.