The Gas Exporting Countries Forum (GECF) joined other stakeholders from around the world on a discussion on the role of natural gas in a sustainably-driven future, at an event organised by the United Nations Economic Commission for Europe (UNECE).
The online dialogue, “99 minutes of LNG – trends, developments, and innovative end-uses”, examined the need for a “more vibrant” natural gas industry, more so than ever, due to the long-term benefits it brings to the society.
The session was organised by the UNECE’s Group of Experts on Gas and featured speakers from the GECF and International Gas Union in addition to several UN Member States and leading gas companies from Croatia, Germany, Indonesia, the Netherlands, Nigeria, Norway, Poland, Russia, Spain, and the United States.
The GECF was represented by Dr Hussein Moghaddam, senior energy forecast analyst at the Secretariat, who presented the latest data on Covid-19 impact on LNG markets and outlined long-term prospects for this fuel. He also spoke in relation to one of the key messages of the event, which postulated that despite the current market environment due to the Covid-19 pandemic, the LNG industry is better placed than ever because of its massive contribution to de-carbonising the world, as well as its long-term benefits to the society and the environment.
Focusing on the global policy orientations that might affect the future of the LNG market in particular and gas market in general, Moghaddam said, “While coal is still considered a critical source for energy security and affordability, particularly in Asia, coal development plans are being revised downward compared to previous years amidst low electricity demand and rising availability of alternative sources. There is, therefore, a real opportunity for coal to gas switching.
“Further, gas and LNG can benefit from the climate policies being pushed out now due to their competitiveness and alignment with UN’s Sustainable Development Goals (SDGs).”
The GECF is a regular contributor to the discussions of the UNECE Group of Experts on Gas.
Its previous participation came at the 6th UNECE Session of Group of Experts on Gas, which was held in Geneva in March 2019.
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