July 9, 2020
Gas technologies and innovation vital to reducing emissions
- New international report finds natural gas technology could reduce emissions by a third
- Australian industry is leading the way with new technology such as carbon capture and storage and investments in hydrogen
- Natural gas is essential to meet international emissions targets
A new report highlighting how innovative natural gas technologies can reduce emissions and support the global energy transition has been welcomed by Australia’s oil and gas industry.
The International Gas Union’s (IGU) Gas Technology and Innovation for a Sustainable Future report shows utilising natural gas technologies – including carbon capture and storage, hydrogen and renewable gas, – to their full economic potential could deliver a reduction in global greenhouse gas (GHG) emissions of up to 12 gigatonnes (GT) by 2040.
This is equivalent to nearly a third of global energy sector GHG emissions in 2019, the IGU sustainability report said.
APPEA Deputy Chief Executive Damian Dwyer said Australia’s oil and gas sector was committed to a technology-driven strategy to help lower emissions and address the risk of climate change.
“The latest IGU technology and sustainability report once again highlights how natural gas has an essential role to play in reducing emissions, both domestically and internationally,” Mr Dwyer said.
“Locally, natural gas is a cleaner fuel and can see the emissions intensity of electricity generation fall. Gas-fired generators can be rapidly started making them complementary with intermittent renewable energy.”
APPEA recently lodged a submission to the Technology Investment Roadmap Discussion Paper, which highlighted how exporting natural gas as LNG enabled Australia’s trading partners across Asia to reduce the emissions from their economies.
The latest statistics from the Minister for Energy and Emissions Reduction Angus Taylor also show Australia’s LNG exports have the potential to reduce emissions in these importing nations by up to 164 million tonnes each year, by the displacement of coal consumption in those countries.
Mr Dwyer said APPEA’s members were committed to emissions reduction, highlighted by a new report Industry Action on Emissions Reduction outlining case studies and initiatives being undertaken by the industry to reduce greenhouse gas emissions. These actions encompass the entire oil and gas exploration and production life cycle.
“A focus on innovation and technology, including greenhouse gas storage and hydrogen as technologies can achieve large-scale abatement, and provide a large-scale economic opportunity for Australia,” Mr Dwyer said.
“Reducing global emissions, using natural gas to enable renewables and sustaining and growing a strong export industry are all vital to Australia’s economic future, especially in these tough economic times.”