The energy industry is facing the most profound challenge in its history: climate change. It’s complex, fast, and could be catastrophic. To prevent it, we must dramatically reduce carbon emissions. But how can we do this when it’s in direct conflict with the exponential growth in energy demand?
There are many unknowns. But the one thing we know for sure, is that we have to change… now.
What we know about greenhouse gas emissions and the role of natural gas
Over two thirds of global greenhouse gas emissions originate from direct carbon dioxide (CO2) emissions as a result of transportation, power generation and industrial sources.
Natural gas will play an increasingly pivotal role in the energy transition. Around the world, it will continue to be used as a replacement for coal-fired power generation, and will be a transition fuel for the next few decades as renewable infrastructure is established.
However, there will be increasing pressure to decarbonize its production and use. Greenhouse gas emissions are generated through the production and liquefaction of natural gas as well as through the ultimate combustion for either power generation or heat. As the global community works toward zero net carbon emissions by 2050, its decarbonization will be required.
In the end, decarbonization of all sectors must be achieved. Complicated, yes. Impossible, no.