BP chief: Global energy role for natural gas

Published: 21 Oct 2009

Natural gas is definitely a bridge fuel, but can be much more, said Tony Hayward, chief executive at BP. “Natural gas has often been described as a ‘bridge fuel’ to a lower carbon future. It’s definitely that,” he said, adding, “it can be much more.”

Hayward, one of the vocal advocates of gas as a clean future source of energy, was speaking at the 24th World Gas Conference, which was held in Argentina from October 5-9. The conference was organised by the International Gas Union. “Using the technology we have available today, greater use of natural gas can provide us with the quickest, most realistic path to achieving the largest emissions reductions at the lowest cost. “It can be a ‘destination fuel’—a fundamental fuel in a lower carbon world. Natural gas is here. It’s now. It’s cleaner. It’s more affordable. So, what are we waiting for?” Hayward said.

Stating that BP has a special connection with Argentina thanks to BP’s very successful joint venture in Pan American Energy, Hayward said: “We need to take carbon out of the energy mix today and we need to be realistic about how we’re going to do that.” He said the solution lies in a diverse energy supply, particularly in the power sector, which he described as one of the principal drivers of growth in global demand for energy to 2030. “That diversity will require the continued use of fossil fuels, nuclear and alternative energies such as wind, solar and biofuels,” Hayward said. “I can see only one way of doing it, by increasing the use of natural gas.” “Using technology available today, greater use of natural gas can provide the quickest, most realistic path to achieving the largest emissions reductions at the lowest cost.” BP estimates that undeveloped or unidentified unconventional gas could contribute a further 4,000 trillion cubic feet to gas resources over the next few years, another 60 per cent on top of current proven gas reserves. Source: http://guardian.co.tt/business/business/2009/10/21/bp-chief-global-energy-role-natural-gas