Gas a pragmatic answer to realise energy transition: GECF

Tribune News Network Doha The destiny of the world rests in the innovative utilisation of hydrocarbons while embracing the rise of renewables in the globa...

Tribune News NetworkDoha The destiny of the world rests in the innovative utilisation of hydrocarbons while embracing the rise of renewables in the global energy mix, the secretary-general of the Gas Exporting Countries Forum (GECF) said at the 24th St. Petersburg International Economic Forum (SPIEF).“The world will need to power its economic growth through hydrocarbons, specifically the cleaner, abundant, and cheaper natural gas, for some time to come. It is obvious that the structure of the energy mix is becoming more diversified thanks to the expansion of renewables. However, fossil fuels are projected to remain dominant, accounting for 71 percent in 2050,” GECF Secretary General Yury Sentyurin said during a panel discussion on “The Future of Energy: Energy transition”.“As an organisation dedicated to studying and forecasting the innovative use of natural gas, the GECF believes that it is gas that can realistically bring about the most efficient and environmentally friendly energy transition,” he said.These remarks were echoed by Alexander Novak, deputy prime minister and former energy minister of Russia, who reiterated his belief that traditional energy sources are not going away in the next few decades.“Energy transition is coming, it’s happening, but its’ space will depend on a number of questions and a number of different issues. We must not discount conventional energy sources which are going to stay with us for a while yet,” he said.“Russia will support the development of conventional energies and will attempt to diversity natural gas markets and others in future. Let’s join our efforts and act in concert to work on the climate agenda without neglecting the conventional energy sources,” he said.The importance of a just and fair energy transition which benefits all populations of the world was underscored by Angela Wilkinson, secretary general and CEO of World Energy Council, who said her message is “energy for humanity”.“We like to talk about technologies or resources or investments. But what we really need is an energy transition which is for people and planet …and as Novak has said it’s going to take a mix of all resources to do that,” she said.These and similar themes form part of the UN Sustainable Development Goals too. Currently, close to a billion people around the world do not have access to electricity, while over 780 million people in places such as Africa do not enjoy access to clean cooking fuel.Nobel Laureate Chung Rae Kwon highlighted the ‘reductionist’ view of certain energy-transition proponents and reports which favour only one side of the picture.“One issue we have not fully captured so far in the debate on energy transition is about the carbon emission from the consumption. The United Kingdom, for example, succeeded in emission reduction by 40 percent in the last three decades but it is based on the production side. When you calculate from the consumption side, the per-capita consumption emission of British people never changed within the last three decades,” he said.“I appreciate the comment about the pace and the practical way of using conventional energy in an environmentally friendly way.”The producers’ viewpoint was advanced by Abdulaziz bin Salman Al Saud, Minister of Energy of Saudi Arabia. He said he was confident that oil would be needed in the future to bring prosperity to all.“I believe that our planet has always been in transition ever since God created it and will continue to be in transition. It is the duty of humankind to make sure that we harness that transition, we master it, and we ensure that transition brings betterment to human lives regardless of what region they live in,” he said.According to the latest GECF estimates available in the organisation’s flagship publication of the GECF Global Gas Outlook 2050, natural gas will become the leading source of energy in the global primary mix by mid-century, increasing its share from 23 percent today to 28 percent.