DNV GL: Confidence About Future of Gas is Being Met with Investment
Confidence about the future of gas is being met with investment, according to a new report published by DNV GL.
The report, titled Transition in Motion, highlighted that nearly two-thirds (64 percent) of 813 senior oil and gas professionals surveyed said their company is either increasing (29 percent) or sustaining (35 percent) their investment in gas projects in 2018. Just 8 percent are planning to decrease gas project spending, according to the report.
DNV GL’s latest publication also highlighted that 86 percent of senior oil and gas professionals agreed that gas will become an increasingly important component of the global energy mix over the next 10 years, and that 44 percent said their organization is actively preparing for a transition to a less carbon-intensive energy mix.
“Gas benefits from being a cleaner power source than other fossil fuels, and with reliable supply and affordable costs we expect solid growth of gas the next 15 years,” Sverre Alvik, program director for Energy Transition Outlook, DNV GL, said in the report.
“After peaking in the mid-2030s, gas use in power is expected to decline from around 2040, by when wind and solar will dominate power supply,” Alvik added.
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