By Anayo Ezugwu
AS the push for an energy transition from fossil fuels to new energy sources continues, Tony Attah, chief executive officer, Nigeria Liquefied Natural Gas, NLNG, is confident that gas will continue to play a significant role in fueling the world for at least the next 20 to 30 years. He says that gas is an important part of the global energy story, currently accounting for about 25 percent of the energy consumed.
Speaking in a live interview conducted by Frank Aigbogun, Publisher of BusinessDay, during the BusinessDay Annual Energy Series, Attah noted that the industry fully recognizes the case for this switch and the need to be involved in the protection of the planet whilst still ensuring the provision of adequate and affordable energy to fuel the growing world population and economies.
“Whilst a quick switch to renewables and other cleaner energy sources is desirable, current data indicates that in reality, this cannot be achieved sustainably on a global scale overnight. We must therefore find a way to bridge the gap between where we are today, and where we desire to be. This is the role that gas is expected to play in the medium and long term.
“Despite being a fossil fuel, gas is cheaper, cleaner and increasingly more available than the traditional oil fuels and it can support realistic transitioning to the new energy world order. Most forecasts show gas retaining and possibly slightly growing its share of the energy mix up till at least 2040, though the estimates could change due to the potential long–term impact of the ongoing pandemic, which has seen some renewed calls for faster decarbonization.
“Now, it is difficult to project how much of an impact the pandemic will have as this is just the beginning of a new era. Everyone is still trying to understand what is going on and how to tackle it, but as things hopefully begin to settle down over the next few years, and hopefully, with the development of effective vaccines, it will become clearer what the true outlook is. Whatever the case though, we are confident that gas will continue to play a significant role in fueling the world for at least the next 20-30 years.
– Sept. 35, 2020 @ 12:55 GMT |