LNG, a key resource for leading the world towards a low carbon economy

LNG, a key resource for leading the world towards a low carbon economy

Elisa Maria Giannetto
Share
The opportunities and challenges of a resource that has the potential to ensure the transition to a low carbon economy. Companies and entrepreneurs in the energy sector exchanged opinions on this issue at Ravenna during the last day of the OMC, with the aim of developing technological solutions to ensure a greener energy usage

The world will run on LNG. According to the experts this is the key resource to ferry the economy from a traditional model based on fossil fuels to one with a low carbon content. With an estimated 40 to 60 percent of worldwide reserves still undiscovered, LNG is considered a valuable resource, a bridge towards a new economic model, starting with its use in the transport sector.
The opportunities and challenges of this natural ally, as well as those of conventional sources and renewables, were discussed by energy sector companies and entrepreneurs during the final day of the OMC in Ravenna, in the panel debate titled "Low Carbon Economy and the O&G Industry." An opportunity to present the most innovative solutions, including small-scale technologies that will be able to make the transition to a zero carbon future faster than can be predicted today. And the evidence abounds. Experts speak of a 10% growth in demand for LNG by 2035. In particular, Arthur D. Little estimates that the LNG penetration has great potential with regard to the field of ships, trucks, trains, especially in regions such as China, India and the United States. "The fundamental problem is to promote the development of infrastructure to enable rapid deployment of the energy in these market segments" Katia Valtorta, Principal of Arthur D. Little explained.Robert Armstrong, Director of the MIT Energy Initiative, also intervened on the subject, stating, "we live in a time of surprises, as is evidenced by the shale gas revolution in America and the sizeable growth of renewables that over the last decade, have added more than 560 GW of electricity production due to the reduction in production costs."
The opportunities for economic growth and reduction of pollutant emissions are numerous; but at the same time this transition constitutes a huge challenge for companies if we calculate the investments needed to make this technology available on a large scale. And an even greater commitment if we consider that the benefits of the efforts and investments made today will only materialize in the future.