BAKU, Azerbaijan, March 9
By Leman Zeynalova – Trend:
Methane emissions will draw additional operational attention in Europe after the launch of the European strategy and the OGMP2.0 (Oil and Gas Methane Partnership Initiative), Trend reports citing the International Gas Union (IGU).
2021 will also focus on Carbon Border Adjustment Mechanism (CBAM) proposals to address risks of “carbon leakages”, IGU said in a report.
Speaking about emissions’ reduction, IGU said Europe is targeting a crucial year on many dossiers which involve gas – or better said – gases, as biomethane and hydrogen are already part of a combination that will require low carbon and zero carbon energy sources.
“The “Green Deal” is the key of European multifaceted approach to ensure a solid economic growth after the pandemic and the European gas industry is well positioned to take the opportunity and be a partner in this challenging path with all relevant stakeholders, combining the well-established energy delivery to all consumers in an economically sustainable manner and the additional efforts to promote technological developments on both gas utilisation (e.g. in the road transport and marine sector) and improving the economic viability and technical optimisation of new solutions like CC(U)S or hydrogen,” reads the report.
2020 has been an exceptional year for European gas. Demand, which was projected to be strongly suffering from the effects of Covid-19, has diminished, but in a limited way, with gas prices recovering from around €5/MWh lows to the €20+/ MWh (around $255/’000 m3 ) registered at year-end, with a spike early in 2021 in connection to the Asian LNG demand surge.
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