A new opportunity is opening for Central Europe’s energy supply, and within it for its...Comments Off on Opportunities and challenges for Central Europe’s gas supply
We are pleased to share with you some of the key announcements made by top energy leaders on Gastech, Houston. High-level representatives from all this companies will be present on Budapest LNG Summit in December.
„A big part of our energy grid needs to be electrified and most of that electricity needs to be provided by renewables and cannot have that happen without a backup in the system that natural gas can provide. Increasingly energy storage will play a important role, but there will always be a big need for natural gas. I belive, that natural gas has a super important role to play for several decades to come as the world transitions to a zero emission energy” De LaRey Venter, Executive Vice President, Integrated Gas Venture, Shell
„We are moving into a commodised industry and we need to bring portfolio gas to the market, which can be much more flexible. By the end of this year and start of next year we will begin construction with our partners. At 200 mtpa of exports, U.S. LNG will have the potential to reduce global CO2 emissions by about 1 gigatonne, if used to displace coal fired power generation. The success of LNG in supplying cleaner fuel to some of the world’s most congested cities depends only on the ability of LNG supply to keep pace.” Meg Gentle, President and CEO, Tellurian
„We gave FID approval recently for Artic 2 LNG project, we will step into the market place to create demand for our LNG. The idea is to service and develop new markets that need gas so we’re going to take an equity position in projects going forward. We have to work very closely with EPC contarctors and they have to be involved closely from the beginning” Mark Gyetvay, Deputy Chairman & CFO of Novatek.
„Natural gas produces up to 60% fewer CO2 emissions than coal, leading to significantly fewer pollutants, which in turn would have huge envronmental benefits.
Natural gas is ideal partner to support power generated by intremittent renewables. It is reliable, efficent and flexible – making gas suited to help meet peak demand and play a crucial role in securing our cleaner energy future. LNG in particular is a game changer, allowing us to ship this cleanre burning fuel in quantities, that we have not seen before” Alex Volkov, VP and Head of Global LNG Marketing, ExxonMobil