Natural gas demand was expected to increase at an annual average pace of 1.7%, corresponding to overall growth of 46% by 2040, GECF secretary-general Dr Yury Sentyurin said at the recent ‘G20 Ministerial Meeting on Energy Transitions and Global Environment for Sustainable Growth’ in Karuizawa, Japan.
Most of this demand growth, he said, will come from the Asia-Pacific region, with Europe continuing to be an “attractive” market for many gas producers.
Sentyurin was invited to participate in the high-level G20 debates and present the forum’s expertise and knowledge to the professional community.
In line with a growing share of renewables, Sentyurin said natural gas was set to be a key element in meeting environmental expectations and the growing appetite for energy, as it is both abundant and affordable. A major source for blue hydrogen, the natural gas industry is aimed at further improving its environmental image and enhancing its position as a crucial ingredient of the global energy mix. The GECF’s mission and priority objectives are centred on fostering co-operation and dialogue, among producers, between producers and consumers, between governments and energy-related industries, the secretary general mentioned.
Sentyurin urged the G20 countries to consider the GECF Members as the most reliable energy suppliers to the esteemed consumers and reaffirmed the Forum’s intent to participate proactively in the G20 activities.
On the sidelines of the meeting, the GECF secretary-general held several meetings with Russian, Indonesian and Australian official delegations, during which he showcased the GECF’s activities and indicated the Forum’s intent to build a comprehensive dialogue with all the partners on the basis of fundamental notion and strategic objectives, spelled out in the GECF long-term strategy and the GECF Gas Summits declarations.
Concurrent with several ministerial meetings and the G20 Summit meeting to be held at various locations in Japan, the Energy and Environment Ministers gathering was held to accelerate environmental protection and economic growth through innovation.
The G20 is an international forum, consisting of delegates of a total of 19 countries and the European Union. Both the largest developed nations as well as emerging countries are represented, jointly accounting two-thirds of the global population, 85% of global GDP and 75% of the world’s trade.
Apart from the G20 energy ministers, the meeting gathered respected international energy entities such as IEA, IEF, IRENA, and ERIA to discuss the necessity for renewed investment in the energy sector as well as the role innovation and novel technologies will have to play in successfully transforming the industry.
Among other topics, the assembly covered liquefied natural gas, blue hydrogen as well as new technologies for the gas industry, ways to use hydrocarbons in a cleaner and more sustainable way and the need for a solid infrastructure.
These, along with the integration of renewables were hailed as cornerstones for the improvement of market conditions, access to energy and efficiency of resources.
According to the United Nations Environment Programme, about 300mn tonnes of plastic waste are produced every year, of which 8mn tons end up in the world’s oceans. This is why in addition to energy efficiency and affordability, renewables, transparency of energy data and digitalisation, the reduction of ocean waste and plastic waste in general were deliberated during the two-day discussions.
Addressing the audience, Dr Sentyurin stressed that joining the G20 ministerial gathering greatly contributed to the Forum’s pledge to enhance its role as a globally recognised benchmark institution in the global gas industry.
The GECF adopted a proactive stance in the G20 Energy Transitions Working Group, which was held alongside the first Environment Senior Officials Meeting. Both sessions explored the scope for innovation within the energy industry, the overall security of the global hydrocarbons market, and the balance of energy supply and demand. The discussions reconfirmed the need to sustain worldwide efforts to secure a clean energy transition and build on existing commitments.
The Forum’s secretary-general stated that unlocking natural gas’ potential and increasing its role in the shift towards lower emission systems is at the top of the GECF’s agenda.
This contributes to addressing climate change and builds on the 2018 G20 Energy Ministers’ Communiqué issued in Bariloche, Argentina.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
QFC focuses on business opportunities for Turkish companies
Come harsh winter, median airlines may run out of cash
Airbus unveils 3 concepts for ‘zero-emission’ commercial planes
Libya to restart oil exports at 3rd port as civil war abates
Asian markets mixed as virus worries temper Wall St lead
Tesla’s Elon Musk promises dramatic cuts in e-car costs
Airlines prepare for pre-flight testing to restart aviation
Al-Kaabi highlights optimal use, rationalisation of water resources at RCUWM Governing Board meeting
‘SMEs’ commitment to the climate initiative enhances their competitiveness’, says Sheikh Khalifa