BAKU, Azerbaijan, Sept.8
By Leman Zeynalova - Trend:
Natural gas and oil will continue to be responsible for inclusive economic growth, Trend quoted Yury Sentyurin, Secretary General of the Gas Exporting Countries Forum (GECF) as saying.
He made the remarks during the OPEC Ministerial Roundtable on Energy, Climate and Sustainable Development.
“We shouldn’t write off hydrocarbons due to their abundance, affordability and impressive contribution to improving energy access and economic conditions. According to the latest projections by GECF Global Gas Outlook 2050, natural gas and oil will provide more than 50 percent of global energy demand by 2050.
“Thus, they will continue to be responsible for inclusive economic growth and sustainable development for decades to come. Specifically, natural gas is one of the global enablers for reducing emissions uninterruptedly and steadfastly by replacing carbon-intensive fuels and backing up intermittent renewables,” said Sentyurin.
He pointed out that a multi-dimension approach should be the way forward to deal with the climate challenge in which the oil and gas industries form the bedrock of the solution.
“Carbon border taxes will impact oil and gas exporters and industrial consumers. A cooperative framework would be ideal rather than the antagonising approach. Climate solution pathways should be balanced along the multiple vectors impacted by energy, such as economics and social vectors. Decarbonisation technologies should include oil and gas decarbonisation technologies,” added the GECF secretary general.
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