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MOL Group launches Low Carbon and New Energies organisation

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Posted by Elizabeth Corner, Senior Editor


World pipelines,





MOL Group, a leading player in the energy market in Central and Eastern Europe, presents its latest achievement in the field of sustainable energy solutions with the establishment of the “Low Emission and New Energy” division within its Exploration and Production division.

The new organisation is headquartered in Zagreb and is an important step forward in MOL Group’s commitment to delivering low-emission solutions in the industry.

With a commitment to reducing carbon footprint and pioneering renewable energy initiatives, the Low Carbon and New Energies division addresses sustainability challenges and launches new business streams. The organization will lead multiple initiatives to diversify MOL Group’s energy portfolio, aiming to reduce CO2 and methane emissions and minimize 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.”

Key projects implemented under the Low Carbon and New Energy initiative include:

  • 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.
  • 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 that is already extracted for oil production. After lithium extraction, the water will be reinjected in a circular manner.
  • Carbon Capture and Storage (CCS): MOL Group is committed to reducing greenhouse gas emissions by implementing CCS technology. By storing carbon dioxide underground, MOL aims to significantly reduce its environmental footprint. We are currently starting feasibility studies for several sites in Hungary and Croatia. We have also started discussions with potential partners within entire CCS ecosystems.
  • Methane emission reduction: As part of its commitment to environmental protection, MOL Group is implementing measures to minimise methane emissions from its operations in order to fully comply with upcoming EU regulations. Through advanced monitoring and control systems, the company aims to increase operational efficiency while reducing environmental impact.

Read the latest issue of World Pipelines magazine for pipeline news, project stories, industry insights and technical articles.

World Pipelines July 2024 issue

The July 2024 issue of World Pipelines features articles on coatings, flow assurance, emission reduction, pigging, and safety and risk management. We also publish our annual HDD Q&A with Vermeer, TRACTO Technik, and Ditch Witch.

Read the article online at: https://www.worldpipelines.com/business-news/04072024/mol-group-launches-low-carbon-and-new-energies-organisation/