LNG to be biggest source of carbon emission growth by 2025, study says
London — Liquefied natural gas (LNG) will be the biggest source of carbon emission growth for the world’s top oil and gas companies by 2025, according to a new study by Wood Mackenzie, as demand for the super-chilled fuel is set to rise sharply. Oil and gas companies such as ExxonMobil, Royal Dutch Shell and Total have promoted natural gas as a cleaner fossil fuel that will displace coal to meet growing demand for energy as the world shifts away from fossil fuels in the coming decades. But converting natural gas into LNG by cooling it to minus 160°C to transport it to demand centres is a highly energy-intensive and thus emission-intensive process, according to Wood Mackenzie analyst, Amy Bowe. Capping emissions of heat-trapping gases by the oil and gas industry has moved to the forefront of investors’ agendas in the wake of the 2015 Paris climate agreement to limit global warming to below 2°C by the end of the century. Companies are coming under growing pressure to tackle emissions ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.