DEN - Maersk Promises Clean Energy Use Driving Change In Oil And Gas Markets

• The energy transition is underway, but the movement is fragmented and slow. Even in the US, the transition is likely to take between 30 and 70 years, perhaps longer.
• Maersk's net-zero promise sounds great on the surface, but things are far more complex. Changes must be made across the value chain to reduce emissions and keep cleaner fuel affordable.
• While the move to cleaner fuels reduces the need for oil, economics support the continued use of natural gas and even other dirtier products such as petroleum coke.
• Hydrogen projects derived from renewables are appearing, but this production is expensive which may limit its growth.
• Energy companies and sovereignties like Saudi Arabia are far from dead. They can use free cash flow to divest into other sectors of energy such as renewables, hydrogen, ammonia, and methanol.

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