Gas to drive a realistic energy transition
Gas to drive a realistic energy transition
Coming on the heels of the ‘lost year’ of 2020, which will be remembered not only as the most devastating pandemic in modern history, but also the hottest year in recorded history, it doesn’t. No wonder the fight against climate change has reached a palpable frenzy.
Today, the percentage of countries that consume more resources than their ecosystems can regenerate is 74%. In contrast, 789 million people live without access to electricity and hundreds of millions more do not have access to clean cooking fuel. These harsh realities undermine progress on the Sustainable Development Goals (SDGs), and certainly SDG7 âaffordable and clean energyâ. They also highlight why the world must move forward and take responsibility for providing access to affordable, reliable, sustainable and modern energy for all. There are lives at stake.
To further complicate the challenges, even as the wheels of the global economy turned towards a much-anticipated start after a painful 18-month wait, unprecedented gas prices are now raising concerns from Europe to Asia and elsewhere. with the winter season looming on the horizon in the northern hemisphere.
These recent developments, which sadly affect all layers of society still reeling from the devastation caused by COVID-19, validate the long-standing position of the Forum of Gas Exporting Countries (GECF) on a balanced approach to the management of the energy transition.
The Forum, an intergovernmental coalition of 18 countries that account for the largest share of the world’s proven natural gas resources, production and trade, has formally aligned its efforts with the international pursuit of the achievement of the Sustainable Development Agenda of United Nations by 2030, to eradicate energy poverty and provide uninterrupted access to modern energy sources, in particular for the most vulnerable communities, most recently through its declaration to the High Level Dialogue of the Nations United on Energy.
Our Forum has reserved its most exceptional efforts to analyze, evaluate and evaluate the different paths in the context of the energy transition. We believe that technology will play an important role in decarbonizing the entire energy sector.
Based on available science and recognized research, GECF advocates the green credentials of natural gas, which is an effective route to achieve immediate reduction in carbon emissions by replacing more carbon intensive fuels. This positive effect has already been demonstrated in several large economies, which have reduced their carbon intensity by improving the penetration of natural gas.
Currently, the gas industry is considering a deep decarbonization of natural gas, in particular through the capture, use and sequestration of carbon and hydrogen fueled by natural gas. These options are in addition to other existing and new technologies to improve efficiency, ranging from the digitization and electrification of gas-related processes to the detection and reduction of methane leaks. All of these technologies will help reduce greenhouse gas emissions from natural gas operations and throughout the supply chain.
In the same spirit of continued excellence, GECF has set up its Environmental Knowledge and Solutions (EKS) initiative to foster a platform of support and collaboration where best practices will be exchanged and support will boost enhanced capacities. who can tackle gas-related environmental problems head-on. .
Quote bubble “Gas was, is and will remain the most realistic option for achieving the energy transition”
Gas was, is and will remain the most realistic option for achieving the energy transition, stimulating economic growth and social progress by offering competitive prices and a secure and abundant source of energy. These benefits are further reinforced by the diversification of gas production centers and routes and the emergence of small-scale LNG solutions. The latter allows gas to reach regions with underdeveloped infrastructure, improve access to energy and expand the potential of this fuel in various sectors such as road transport, bunkering and small projects. industrial.
This vision is fully aligned with SDG7 and is anchored in the Malabo 2019 Declaration of the Heads of State and Government of the GECF, which supports the fundamental role of long-term gas contracts as well as gas pricing based on the GECF. ‘oil / petroleum product indexing, ensuring stable investments in the development of natural gas resources. Such a principle provides a solid basis for, above all, natural gas buyers as well as protection of supplies against price volatility.
The Declaration implores the Forum to “promote cooperation with African countries, where hundreds of millions of people do not have access to electrification and clean cooking fuels, to use gas as their main source of energy. in their development programs and policies to combat climate change â.
The GECF encourages and supports global investments in energy efficiency and sustainability, innovation and digitization. The Forum joins the dynamic of promoting the circular carbon economy, which focuses on CO2 resulting from hydrocarbon sources as a real opportunity to capture more value through innovative technologies and practices. In this regard, GECF considers CCS (carbon capture and storage) and CCUS (carbon capture, use and storage) as promising avenues for reducing the environmental footprint of natural gas supply chains, in particular. building on the enormous synergies that exist and the knowledge capital developed by oil and gas companies.
The Forum does not agree with attempts to use the climate agenda to perpetuate energy inequalities, introduce unfair discriminatory practices and establish mechanisms of “green protectionism” that harm global trade in related products and investments. gas.
The industry is deeply concerned about the aggressive and one-sided policies developed under the climate agenda that aim to impose restrictions on trade, such as carbon border adjustment mechanisms. We view these approaches as discriminatory and lack the moral principles of âenergy for allâ and environmental justice that should guide the global effort to tackle climate change.
Despite the current culture of reductionism and cancellation, GECF aspires to present a balanced roadmap for the energy transition for a constructive debate that will allow policy makers to initiate, avoid market fluctuations and economic hardship. unnecessary, and to lead a realistic energy transition that truly benefits everyone.
The statements, opinions and data contained in the material published in Global Gas Perspectives are solely those of the individual authors and contributors and not of the publisher and editor (s) of Natural Gas World.