ARPEL has developed the White Paper “Energy Transitions in Latin America and the Caribbean - The Role of the Oil and Gas Industry” as a contribution to the development of a roadmap for energy transitions in the countries of the region.

In 2018, oil and gas provided 70 per cent of energy in Latin America and the Caribbean; therefore, the sector is an essential partner in the sustainable development of the region.

By using their abilities, competences and resources, ARPEL Member Companies will play a vital role in supporting the energy transitions process.

“All ARPEL oil, gas and energy companies agree that focusing on emissions reduction, energy efficiency, resource efficiency, circular economy, and resilient energy infrastructure challenges, will unlock brand new business opportunities, while fostering talent attraction and retention,” Elena Morettini, expert in Energy Transitions and Strategies, and former Geoscience Advisor in YPF, co-authoring this document, stated.

“Specific initiatives ranging from the promotion of gas as bridging fuel, low-sulfur gasoline refining, biofuels RD&D, renewable power generation for own use and external market , state-of-the-art methane emissions satellite, airborne and handheld measurements, augmented subsurface storage capacities together with up-skilling and re-skilling of human capital, all are investigated and proposed by ARPEL, as new business and ventures action plans,“ the expert said.

“At times in which markets, investors and the civil society exert relevant pressure in favor of responsible business strategy, energy transitions are the new pillar for global business opportunities,” Morettini stated.

On the other hand, Steven Knell, Director of Gas, Power and Energy Futures at IHS Markit, and also co-author of the document, said, “Energy transitions are about increasing access to energy while reducing the environmental impacts of the energy system that offer exceptional support for economic activity and improved standards of living. ARPEL report captures the balance between these two imperatives and the central role ARPEL member companies play – and will continue to play – in meeting emissions and access to energy challenges today and in the years to come.”

He added that energy transitions are bringing new risks and opportunities for the companies and countries that lead the oil and gas sector in Latin America and the Caribbean.

“Mounting concerns about the impacts of climate change and air pollution are contributing to unprecedented social mobilization and new and more intense political targets and regulations,” Knell concluded.

The White Paper contains ARPEL and member companies’ commitments to collaborate with governments, companies, investors, consumers and the civil society, and thus advance the energy transition process in the region.

The document is available in Spanish, English and Portuguese at the following link: https://arpel.org/library/publication/519/