...

Gazprom: Natgas must play key role in Europe’s shift to low-carbon economy

Oil&Gas Materials 15 January 2019 17:06 (UTC +04:00)
Natural gas must play a key role in Europe’s shift to a low-carbon economy.
Gazprom: Natgas must play key role in Europe’s shift to low-carbon economy

Baku, Azerbaijan, Jan.15

By Leman Zeynalova – Trend:

Natural gas must play a key role in Europe’s shift to a low-carbon economy, Trend quoted Alexander Medvedev, deputy chairman of the management committee, Gazprom, as saying ahead of the European Gas Conference 2019.

“In Gazprom’s view natural gas can and must play a key role in Europe’s shift to a low-carbon economy. Gazprom has presented its vision of how natural gas can contribute to European climate neutrality by 2050. Natural gas can substitute coal in power generation and oil products in transportation. Thus, Europe is able to meet 2020 climate targets,” said Medvedev.

Further, the noted that a new elegant technological solution is introduced with hydrogen.

“The use of methane-hydrogen fuel in energy and transport without costly infrastructural changes will result in 25-35 percent emissions reduction, thus allowing Europe to achieve 2030 climate goals. Finally, a full-scale transition to hydrogen from methane offers the feasibility of the EU’s challenging 2050 targets,” added Medvedev.

He pointed out that there is nearly a consensus view that global transformations will eventually boost the importance of natural gas within the group of fossil fuels as crucial ingredient of the world’s effort to shift toward less-polluting forms of energy.

“International Energy Agency in its New Policies Scenario regards natural gas as the fastest growing carbon fuel, overtaking coal by 2040 to become the world’s second-largest source of energy after oil. With demand growing by 1.6 percent per year, gas consumption is almost 45 percent higher in 2040 than today. Gazprom shares similar views on the future of natural gas.”

On 28 November 2018, the Commission presented its strategic long-term vision for a prosperous, modern, competitive and climate-neutral economy by 2050.

The strategy shows how Europe can lead the way to climate neutrality by investing into realistic technological solutions, empowering citizens, and aligning action in key areas such as industrial policy, finance, or research – while ensuring social fairness for a just transition.

The transition to a low-carbon economy is important in order to transform the European industrial base, including the energy, manufacturing, transport and construction sectors. European energy intensive industry sectors that face international competition could be substantially disadvantaged by unilaterally imposed carbon constraints on EU industries. The European Commission has developed carbon leakage provisions and promotes low-carbon technologies through the Sustainable Industry Low Carbon programs.

The 2030 climate and energy policy framework proposed by the Commission in January 2014 recognizes industrial competitiveness as a key aspect of EU climate and energy policies. This principle was endorsed by the European Council in October 2014 with a clear reference to the need to eliminate the risk of carbon leakage, as well as the importance of ensuring a stable regulatory framework for long-term industrial investments. The Council also stressed the importance of access to secure and affordable energy.

---

Follow the author on Twitter: @Lyaman_Zeyn

Tags:
Latest

Latest