BAKU, Azerbaijan, November 20. Natural gas currently fulfills 23% of the world's primary energy needs, said Mohamed Hamel, Secretary General of the Gas Exporting Countries Forum (GECF), at the COP29 summit in Baku, Trend reports.
He highlighted the indispensable role of natural gas in the global energy landscape, underscoring its contributions to economic growth, environmental sustainability, and food security. "Natural gas drives economic growth, improves living standards, reduces household pollution, enhances urban air quality, and lowers greenhouse gas emissions".
Hamel emphasized the role of natural gas as a reliable partner for intermittent renewable energy sources, ensuring stability when solar, wind, or hydropower systems falter. He also highlighted its potential for decarbonizing hard-to-abate industries through cost-effective blue hydrogen and its critical importance to global food security as the primary feedstock for fertilizers.
"As the world's population grows and economies expand, the need for natural gas will increase, not decrease," Hamel affirmed.
The SecrGen referenced the Algiers Declaration, adopted at the 7th GECF Summit, which called for strengthened collaboration among member countries to enhance the role of natural gas in sustainable development. The Declaration also urged the removal of barriers to timely investments, financial flows, and access to technology in a fair and equitable manner.
Hamel stressed that the outcomes of COP29 should facilitate financing for natural gas projects and the adoption of cleaner technologies such as carbon capture, utilization, and storage (CCUS). "This is essential for achieving just, inclusive, and orderly energy transitions that leave no one behind," he concluded.