Oil & Gas Group
This group brings together those who are interested in topics around oil and gas exploration, drilling, refining, and processing.
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Invest in gas or face more volatility, say BP, TotalEnergies and ExxonMobil chief executives
The demand and consumption for energy is going to to grow upwards. Although share of renewables will increase the problem of intermittency will still be there. Thats where natural gas comes in.
Why Invest in Natural gas?
- Renewables are unable to catch up with the energy demand
- The natural gas provides redundancy to the intermittency in renewables
- With lack of investment in natural gas, spot prices are soaring.
- The political clout of Russia in gas supply to Europe needs to be countered by new gas investments
- In the absence of investments in natural gas, the energy transition pace is slowing, countries are reverting to coal
- The pandemic and energy transition has caused investment in new gas developments to decline
POPINT TO PONDER
Governments are trying to reduce demand for fossil fuels. However, if we do not balance the equation of supply and demand and only address the supply, it will lead to additional volatility. What super majors are saying is "we need to have thoughtful policies that will recognize the importance of natural gas and manage this transition with both redundancy and backup (energy sources)".
Invest in gas or face more volatility, say BP, TotalEnergies and ExxonMobil chief executives
Supermajor bosses spell out the case for continuing spending on natural gas amid supply crunch in Europe and Asia
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