MOL Group, a leading player in the energy sector in Central and Eastern Europe, has created a “Low Carbon and New Energies” branch within its Exploration and Production division. This new organization is based in Zagreb and marks a step forward in MOL Group’s commitment to deliver low carbon solutions within the industry.

With a dedicated focus on reducing carbon footprint and pioneering renewable energy initiatives, the Low Carbon and New Energies branch addresses sustainability-related challenges and will launch new business streams. The organization will spearhead multiple initiatives aimed at diversifying MOL Group’s energy portfolio, targets to reduce CO₂ and methane emissions and to minimize environmental impact.

Among the key projects under Low Carbon and New Energies’ umbrella are:

• Geothermal Energy Production: Leveraging advanced technology and expertise, MOL Group’s Exploration and Production will harness the Earth’s natural heat to generate clean and renewable energy. In the last months two geothermal exploration licenses were awarded to MOL in Hungary, and two to INA in Croatia.

• Lithium Production Pilot Project: Recognizing the growing importance of lithium in the transition to electric mobility, MOL Group is embarking on a pilot project to explore sustainable methods of lithium extraction in Pusztaföldvár, Hungary. Testing of several R&D technologies will start this year MOL will be testing environmentally friendly solution using the underground water that is already being mined for oil production. After the extraction of lithium, water will be re-injected in a circular way.

• Carbon Capture and Storage (CCS): MOL Group is committed to mitigate greenhouse gas emissions through the implementation of CCS technologies. By storing carbon dioxide underground, MOL aims to reduce its environmental footprint. Currently the company is launching feasibility studies for several locations across Hungary and Croatia. Furthermore, it has started discussions with potential partners across the whole CCS ecosystems.

• Methane Emissions Reduction: As part of its commitment to environmental stewardship, MOL Group is implementing measures to minimize methane emissions across its operations, in order to be fully in line with the upcoming EU regulations. Through advanced monitoring and control systems, the company seeks to enhance operational efficiency while reducing environmental impact.