This year’s Gastech conference came at a critical juncture amid a supply crunch that is sending gas prices around the globe spiking. Top industry executives gathered in Dubai to speak in depth on the issue, but there was ultimately one key theme that shone through. More investment is needed.
There are growing concerns that investment in gas is suffering because the fuel is being lumped together with coal and oil as a polluting fossil fuel, rather than being successfully promoted as a key bridge fuel in the energy transition. As it stands, renewables are not able to provide the reliable baseload power generation that natural gas can. As such, key gas producers argue that investment is required to ensure ample supplies are available going forward. The environment will be the loser if high gas prices prompt gas-to-coal and gas-to-oil fuel switching, they add. (CONTINUED - 1045 WORDS)