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02.07.2010 12:48
© dlritter @sxc.hu
Yesterday, at the European Business Summit (EBS) some energy company representatives said that Europe should turn to natural gas in its search for the affordable and reliable energy sources of the future.
According to them, EU must address the twin challenges: cutting its emissions by 20% from 1990 levels by 2020 and securing sufficient energy supplies for the future, in a market that is currently heavily dependent on foreign imports.
According to Tom R. Walters, president of ExxonMobil Gas & Power Marketing, natural gas is gaining momentum, particularly in the area of energy generation.
He argued that replacing coal generation with gas could help the EU to meet its climate goals as it produces significantly fewer carbon emissions while allowing renewable energy technologies more time to develop.
Moreover, natural gas-fired generation "is well-positioned to provide the flexible supplies" that could balance the future energy system, which will be increasingly based on intermittent renewable energy generation, he added.
Walters was echoed by Peter Voser, CEO of Royal Dutch Shell, who said that gas is "affordable and abundantly available" and spoke of reserves that could last 250 years.
Furthermore, conference participants argued that the rise of unconventional gas is changing the dynamics of the sector by bringing more options to the table. In the US, shale gas production has been seized upon as a means of securing domestic supplies, but experts yesterday suspected that it would be more difficult to sell such unconventional technology to Europeans.
More information @euractiv
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