Green Swan, an investment platform seeking to provide capital to countries signed on to the Paris Agreement of 2015, is courting U.S. investors to fund decarbonization projects in countries including Iran and Venezuela, its executives told Hart Energy.
Other countries identified by Green Swan executives —who were in Houston on a road show talking to potential investors —that could benefit from its investment program include Ecuador, Mexico, Nigeria and Oman, among others.
The young U.S.-based company is mostly interested in exporting U.S. technology to reduce gas flaring in countries that need it the most, Green Swan’s CEO and founder Mehrnoosh Aryanpour told Hart Energy Feb. 14.
“We’re getting the licenses from national oil companies, talking to the political players, and international oil companies that have been doing exploration in these countries and persuading everyone that we need capital right now to solve our global climate crisis,” Aryanpour said.
Aryanpour stressed the urgent need to help these countries solve their gas flaring problems in order to hit the climate goals.
“If not, we are never going to be able to reduce the temperature, and that's bad news,” she said, referring to the impacts that gas flaring has on the environment.
The Paris accord seeks to hold “the increase in the global average temperature to well below 2°C above pre-industrial levels” and pursue efforts “to limit the temperature increase to 1.5°C above pre-industrial levels.”
Green Swan’s aim to reduce flaring in countries near and far will have two-fold positive impacts, the company’s operations director Lukas von Koch told Hart Energy.
First, it will help them reduce greenhouse gas emissions and the negative impacts on neighboring communities and the climate. Second, the countries will benefit from the commercialization of the gas that is no longer flared, von Koch said.
“We aim to monetize previously wasted gas to address the mismatch between supply and demand in regions located near to where we plan to execute our projects,” von Koch said.
Recommended Reading
Seatrium Awarded Contract for FPSO Bound for Guyana’s Stabroek
2024-05-17 - The topsides fabrication and integration contract will be for the FPSO Jaguar, bound for the Whiptail Field in the Stabroek block offshore Guyana for Exxon Mobil.
Seadrill Sells Three Jackups for $338MM to Gulf Drilling International
2024-05-17 - Seadrill Ltd. is also selling its 50% equity interest in the joint venture that operates the rigs offshore Qatar.
Third Suriname Find for Petronas, Exxon Could Support 100,000 bbl/d FPSO
2024-05-17 - A recent find offshore Suriname in Block 52 by Petronas and Exxon Mobil could support a 100,000 bbl/d FPSO development, according to Wood Mackenzie.
US NatGas Flows to Freeport LNG in Texas Seen at Five-month High, LSEG Data Shows
2024-05-17 - The startup and shutdown of Freeport and other U.S. LNG export plants often has a major impact on global gas prices.
US Drillers Add Oil, Gas Rigs for First Time in Four Weeks: Baker Hughes
2024-05-17 - The oil and gas rig count rose by one to 604 in the week to May 17.