Natural gas set to be biggest energy source

DNV GL notes in its Energy Transition Outlook 2019 that natural gas will get increasingly important as the carbon content of the energy mix reduces. The world will need it in large quantities.

The annual report observes that enhanced energy efficiency, more renewables, and large-scale carbon capture and storage (CCS) represent the best hope of reaching global climate goals. Without a massive commitment to industrial-scale CCS, the world will be heading for an overall warming of 2.5°C, the Norwegian classification society warns.

   “This corresponds well with our assessments that Europe, in transitioning from coal, will need all the natural gas Norway can deliver for a long, long time,” says Frode Leversund, Gassco’s CEO.

   “The carbon content of the energy mix will decline, with natural gas becoming the largest energy source.”

   DNV GL maintains that the biggest dilemma facing humanity is that the world needs ever more energy at the same time as greenhouse gas (GHG) emissions must be reduced.

   “When natural gas replaces coal, GHG emissions are halved,” Leversund says. “So it’s crucial that we ensure a high level of gas production from the Norwegian continental shelf.

   “Large quantities of coal are still being burnt, and replacing them with natural gas is the simplest way reducing the amount of CO2 released.”

   He also points out that natural gas is very suitable for load balancing in the electricity sector, and therefore offers important support for renewables such as wind and solar power.

Read more at DNV GL.