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The International Energy Agency (IEA) has refuted claims made by one of its former officials in a report that challenges the Paris-based organisation on its outlook for peak oil demand and argues that it places too much emphasis on the global energy transition.

ICYMI: The UK oil and gas industry, particularly in the North Sea, faces crucial challenges. Between decarbonization and energy security, the political decisions to come will determine the future of this essential resource for the country. L’article North Sea: energy issues and decarbonization for British industry est apparu en premier sur energynews.

Many thanks to Upstream for including our commentary in their coverage of Australia's Future Gas Strategy. Australian gas has a critical role to play in Asia over the next few decades, maintaining energy security for existing importers of LNG and offering coal-to-gas switching opportunities for emerging nations seeking to decarbonise power generation. ------------------------------------------------------ 💡 We are the voice of the gas industry in Asia 📖 Follow us for insights, data and policy on the pathway to a reliable, low-carbon energy future #lng #naturalgas #energysecurity #energytransition #decarbonisation #decarbonization

Clean energy investment in 2024 is set to DOUBLE the $1 trillion forecast for coal, gas and oil. Serious governments must stop all new oil, gas, and coal licensing, end fossil fuel subsidises, and reform policy to enable the transition to the new energy economy. For specifics on how, see the proposals to policymakers from the UN-convened Net Zero Asset Owners Alliance. Governments that take clear action now will be the first to crowd in investor capital for their transition. Governments that delay on transition will soon find their economies playing catch up. https://lnkd.in/dprU4VqW

ANGEA CEO Paul Everingham's latest op-ed examines current policy uncertainty around US LNG exports and how Australia's recently-released Future Gas Strategy might provide food for thought. "The Australian Government has now publicly recognised the global benefits of its natural gas. By expeditiously resolving the halt to export approvals, the Biden Administration can do likewise." --- 💡 We are the voice of the gas industry in Asia 📖 Follow us for insights, data and policy on the pathway to a reliable, low-carbon energy future #lng #naturalgas #energysecurity #energytransition #decarbonisation #decarbonization

Some interesting news from Australia On May 9, 2024, the Australian government released “Australia's Future Gas Strategy”   The Gas Strategy recognizes that “[t]he role of gas will change as we reach net zero in Australia by 2050. Even in net zero scenarios, Australia and the world will need gas at lower levels through to 2050 and beyond. Australian gas will play an important role in an orderly global and domestic energy transformation." There are six principles that govern the May 9 Gas Strategy:   • Australia is committed to supporting global emissions reductions to reduce the impacts of climate change and will reach net zero emissions by 2050.  • Gas must remain affordable for Australian users throughout the transition to net zero.  • New sources of gas supply are needed to meet demand during the economy-wide transition.  • Reliable gas supply will gradually and inevitably support a shift towards higher-value and non-substitutable gas uses. Households will continue to have a choice over how their energy needs are met. • Gas and electricity markets must adapt to remain fit for purpose throughout the energy transformation. • Australia is, and will remain, a reliable trading partner for energy, including LNG and low emission gases. It is important to note that while the Albanese government maintains its commitment to “net zero emissions by 2050”, it supports the right of consumers to choose how their energy needs are met.  The path chosen by the Labor party is diametrically opposed to that chosen by their U.S. counterparts (Democrats) who have enacted laws and regulations with the purpose of making natural gas unaffordable and/or unavailable. Unlike the U.S., consumers in Australia will be able to use natural gas which also “must remain affordable for Australian users throughout the transition.” The government in Australia is not interested in supporting gas bans, or building regulations that would either deprive consumers of their choices or force them to rely on more expensive alternatives.  And to add the proverbial icing on the cake, the 6th bullet looks like a direct jab at the W.H. decision to pause reviews of LNG export applications. I have not seen much in the media about Australia’s Gas Strategy. Only a May 9 BBC article focusing on the disappointment of those who were hoping that Australia would pursue a more rigid command and control approach. When looking at the global energy market, it seems that only the Biden and to a lesser extent the Trudeau administrations are left trying to force a shift in the energy markets. Europe, despite the rhetoric from Brussels, relies and will continue to rely on hydrocarbons. As for the rest of the world, coal remains the go-to alternative. #Australia #naturalgas #netzero https://lnkd.in/eCgfFRkg.

The U.S. Department of Energy has issued its energy, economic, and environmental assessment of U.S. liquid natural gas exports. #LNG

Canadian liquefied natural gas exports could potentially help the Asian market replace up to 20% of its coal-fired power stations – delivering over 680 megatonnes of emissions reductions annually. For a little perspective, 680 megatonnes is more emissions than all of Canada produces in a single year(!) Purnell is excited to imagine a future where the Canadian gas sector plays a critical role in aiding the global transition to decarbonized energy. Learn more here: https://lnkd.in/dx3e83_Q #LNG #CanadianEnergy

As the North Sea’s oil and gas output declines, the Energy and Climate Intelligence Unit (ECIU) calls on the next government to support renewable energy to prevent reliance on foreign energy imports over the next five years.

"Today's publication reinforces that a business-as-usual approach (to LNG exports) is neither sustainable nor advisable." The Energy Department just released a long-awaited study on the environmental and economic impacts of natural gas exports. It found that U.S. LNG shipments drive up domestic wholesale prices and frequently displace renewable energy sources such as wind and solar power. Unfettered LNG exports would cost us, harming our health and our planet. The future depends on clean energy solutions, not development that locks us into harmful fossil fuels. #ClimateChange #Health #DepartmentOfEnergy #EnergyDepartment #FossilFuels #LNG #Gas #Equity #CleanEnergy #ClimateIsHealth