Eurogas works on making sure right frameworks put in place for investments in gas sector

Baku, Azerbaijan, July 10

By Leman Zeynalova – Trend:

Eurogas works on making sure the right frameworks are put in place for investments in gas sector, Eurogas told Trend.

“Eurogas sees a positive future for gas in the EU. In March this year, Eurogas analysed the EU Member States’ National Energy and Climate Plans and found out that many Member States recognise the value of natural gas as part of their plans to reduce greenhouse gas emissions to 2030,” said the association.

The EU Member States also mention biogas and biomethane for use in heating, transport, and power generation, as well as factor in the development of hydrogen, noted Eurogas.

Eurogas said it supports the EU’s 2050 climate neutrality ambitions. “Together with the national regulatory measures and the dropping capacity of coal plants, phasing out coal will become inevitable.”

“Gas is an indispensable complement to renewables, intermittent by nature, and an obvious fast track to lowering carbon intensity of the EU energy mix. The gas market will of course evolve, and Eurogas works on making sure the right frameworks are put in place for the necessary investments in the gas sector, including targets for renewable and decarbonised gas,” said the association.

Estimates on supply and demand vary, but multiple outlooks show that gas demand is growing throughout the world in 2019 and beyond, said Eurogas, adding that this increase is driven by the use of gas in power and industry, as well as liquefied natural gas development and new discoveries worldwide.

Eurogas is an association representing the European gas wholesale, retail and distribution sectors towards the EU institutions. Founded in 1990, Eurogas currently comprises 46 companies and associations from 21 countries.

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Follow the author on Twitter: @Lyaman_Zeyn

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