MOL Group opens new low-emission energy and new energy division in Croatia

MOL Group, a leading energy player in Central and Eastern Europe, presented its latest achievement in sustainable energy solutions by opening the “Low Emission and New Energy” branch within its Exploration and Production division in Zagreb, Croatia.

With a focus on reducing carbon footprint and pioneering renewable energy initiatives, the Low Carbon and New Energies division will address sustainability challenges and launch new business streams. The organization will spearhead multiple initiatives to diversify MOL Group’s energy portfolio, targeting CO2 and methane emissions reduction and minimizing environmental impact.

Commenting on the launch of the Low Carbon and New Energies division, Zsombor Marton, Executive Vice President, Exploration & Production at MOL Group, said: “We recognize the need for sustainable energy solutions to meet the challenges of our times. We will develop our century-long underground knowledge and experience into new and non-traditional business lines to contribute to MOL Group’s decarbonization efforts as outlined in its recently updated Shape Tomorrow strategy. The establishment of the Low Carbon and New Energies organization underlines our commitment to environmental responsibility. We are excited to embark on this journey towards a more sustainable future.”

One of the key projects within the Low Carbon and New Energies business is geothermal energy production. Using advanced technology and expertise, MOL Group Exploration and Production will harness the Earth’s natural heat to generate clean and renewable energy. This initiative underlines MOL Group’s commitment to sustainable energy solutions. In recent months, two MOL geothermal exploration licenses in Hungary and two INAs in Croatia have been awarded.

Another significant project is a lithium production pilot project. Recognizing the growing importance of lithium in the transition to electric mobility, MOL Group is launching a pilot project to investigate sustainable lithium extraction methods in Pusztaföldvár, Hungary. Testing of several R&D technologies will begin this year. MOL will test an environmentally friendly solution using underground water already extracted for oil production. After lithium extraction, the water will be reinjected in a circular manner.

In addition, MOL Group is committed to reducing greenhouse gas emissions by implementing carbon capture and storage (CCS) technology. By storing carbon dioxide underground, MOL aims to significantly reduce its environmental footprint. Feasibility studies are currently being initiated for several sites in Hungary and Croatia. Discussions have also begun with potential partners across the CCS ecosystem.

Finally, as part of its commitment to environmental protection, MOL Group is implementing measures to minimize methane emissions in its operations to fully comply with upcoming EU regulations. Through advanced monitoring and control systems, the company aims to increase operational efficiency while reducing environmental impact.