The role of gas in the future energy mix was the focus on Thursday at CERAweek in Houston, where leaders have been discussing the fuel of the future and the complementary nature of gas and renewables as energy sources.
Forecasts indicate that global economic development and the drive to electrification will increase energy demand – BP’s Energy Outlook 2019 predicts that world energy demand will increase by 33% from 2017 to 2040 in it’s ‘Evolving Transition’ scenario. By that time, the International Energy Agency (‘IEA’) predict that 300 million electric cars will be on the road.
Delivering affordable, sustainable and clean energy – also known as the Energy Trilemma, is the key challenge facing government and industry. How can we supply increasing demand for power and address the climate challenge?
Replacing coal with gas as a primary source of energy will be key to meeting this challenge, in fact, BP predict that natural gas will overtake coal as the second source of energy by the mid-2020s. During the Fuel of the Future session Arnaud Breuillac, President, Exploration & Production TOTAL S.A. described “the development of natural gas as the fuel of the future, in combination with renewables, is going to be the key in the next 20 years in addressing the climate challenge.”
According to Maarten Wetselaar, Integrated Gas & New Energies Director Royal Dutch Shell, getting gas from the reservoir to the customer is a challenge as gas can be difficult to store and costly to transport. Shell’s answer is to fully integrate the supply chain.
Our gas to wire initiative can help to meet the increasing energy demand from clean, natural gas resources, by generating power at source and tapping into offshore power infrastructure avoids the costs associated with transportation.
Simon Bygrave, Communications Manager
Disclaimer:
My opinions and assumptions do not necessarily represent those of the company, nor do they make warranties or commitments on behalf of the company. Please feel free to contact me via info@mfdevco.com for any further information.