The potential of clean development mechanism for petroleum exploration

Abstract

The increasing of Greenhouse Gas emission has the effect on the environment problem. The Clean Development Mechanism (CDM) is one choice of alternatives established by the Kyoto Protocol to assist the industrialized nations with commitments for reducing greenhouse gas emissions to meet their targets, and to promote sustainable development in the developing nations. In Thailand, CDM is important to the sustainable development including the transferring facilitate technology and knowledge from developed to developing countries. The CDM theme doesn’t focus on the supplementation of Certified Emission Reduction (CERs) trading between investor countries and the developing countries but interest in promoting of sustainable development of the country. In the petroleum Exploration and Production (E&P) industry, the amount of carbon dioxide has been emitting continuously from the past to the present. As the result of the GHG emission, it is necessary to find the methods or processes to reduce the amount of GHG emission to atmosphere. This study provides an overview of the CDM potential in Thailand for petroleum E&P industry by the study from the big source of gas emission located in the Gulf of Thailand. In addition, the study describes the potential of the CDM methodologies that suitable methodology including CDM background, structure, and project cycle, and examines the potential value for Thailand. The study concludes that Thailand has the potential for cleaning development mechanism project while the effect of investment cost still have many important roles for the project.