Natural gas doesn’t not only appear on the European horizon, as shown by the International Energy Summit managed by AIEN (Association of International Energy Negotiators (formerly the Association of International Petroleum Negotiators), which ends today. As Steve Duricky, global platform manager Parker’s Fluid Connectors Group, recently explained at Conexpo in Las Vegas: “Europe has been more involved using alternative fuels and cleaner technologies for a lot longer. Now I think things are changing though in the US with the Inflation Reduction Act and $370 billion worth of investments.

In Floria the sun also has blessed the gas

The panelists at the AIEN International Energy Summit in Miami expressed their views on the role of natural gas in the global energy transition. They emphasized the importance of natural gas as a transitional fuel and highlighted its potential in various aspects of the energy sector. Mark Aufmuth, Head of Low Carbon Origination for Gas and Power Trading Americas, bp, stated that natural gas has a significant role to play in the energy transition. It can be used to decarbonize emerging economies and can complement renewable energy sources. Aufmuth advocated for an inclusive approach that combines natural gas with efforts like carbon capture and storage (CCS) for power generation. He emphasized that it’s not a choice between natural gas or other solutions, but rather a combination of approaches.

Victoria Sabbioni Gas, Power and Midstream Commercial Director, CGC: “We’ve been using natural gas in Argentina for years; we know it very well. It is the cleanest of the fossil fuels. It is also important to take into account that each country has its own issues – especially in emerging countries. We can’t afford to invest in unknown solutions. It needs to be reliable.

Amine Soudani, LNG JV Manager North America, TotalEnergies, discussed the untapped potential of natural gas in Europe. “The key to a successful energy transition is diversification,’ he said. ‘Look at what has happened to Europe over the last year or so. Europe is too reliant on oil and gas, but we don’t see Europe signing up for long term contracts.

Anatol Feygin, Executive Vice President and Chief Commercial Officer, Cheniere Energy, acknowledged the progress made by the hydrocarbon industry in decarbonizing its value chain. “Hydrocarbon industry is going to make tremendous progress decarbonizing value chain. It is committed to its social obligations to operate, which is not something I would have said a couple of years ago. Without certain commitments, the industry wouldn’t have a seat at certain tables. It will take a long time to decarbonize the supply chain, but we will have the benefit of the early stages of gas decarbonizing.”

Complementing renewables

In summary, the panelists agreed that natural gas has a vital role to play in the ongoing energy transition. They emphasized its potential in decarbonizing emerging economies, complementing renewables, and diversifying energy sources. While they acknowledged the need for a comprehensive approach that includes other solutions, the industry sees natural gas as an important component of the transition.

IEEFA AND LNG

Highlights

Related articles