The demand for energy is expected to increase by more than 50% by 2050. At the International Gas Union (IGU) Forum today, DNV GL asserted that gas will play a major role in a safer, more sustainable energy supply, but is calling for the market to become more efficient.
Gas is widely recognised as the cleanest of the fossil fuels in terms of greenhouse gases and as a relatively low-carbon, cost-effective fuel that can help meet CO2-reduction goals. The challenge is to ensure that gas can help solve the ‘energy trilemma’ by being available, affordable and clean.
Elisabeth Tørstad, CEO, DNV GL – Oil & Gas, said to IGU delegates: "As the world struggles to meet the high-energy demand while still developing scalable renewables and a low-carbon infrastructure, gas offers the greatest benefits for the foreseeable future. When planning for the next 30 years, gas should play an important role."
In addition to the huge market for gas as a relatively clean source of power generation, DNV GL sees a potential for growth in transportation.
"Small-scale LNG plants and capturing natural gas from, for example, flaring operations will make gas an even more affordable and cleaner solution and help it to take a key role in the coming years," she added.
As an energy carrier, gas can be combined with renewable energy, such as solar and wind power, that provides a variable amount of energy. Gas can balance and stabilise the energy supply and thus help to increase the percentage of renewable energy in the grid. DNV GL has helped to develop the industry’s experience by qualifying the technology used in carbon capture, utilisation and storage (CCUS) and verifying the integrity of storage sites.
"There are more routes that must be investigated and developed, and there are more obstacles that must be overcome, such as the high global use of coal," said Tørstad.
"Collaboration, smart technology development and the right regulatory and political frameworks are required if we are to advance forcefully on the pathway towards a sustainable energy mix and a more solid platform for gas.
"We challenge industry and the authorities to ensure investment in innovative R&D to increase energy efficiency and minimise emissions. DNV GL invests 5% of its annual revenue in R&D, even during the current tough market conditions, and we are committed to contributing to the sustainable development of the industries we engage in."