The challenge facing the world is, “How do we have more energy and less CO2?” said James MacTaggart, general manager new markets Asia for Shell, at Gastech 2015 in Singapore on Wednesday.
“Where is that energy going to come from? …Renewables have their shortcomings and we need other forms of energy.”
MacTaggart saw no single “silver bullet” solution, but that natural gas is an important part of meeting the challenge.
However, he also noted that decisions on the energy mix were driven more by politics and governments than they were by markets. “It is up to all of us to be strong advocates of natural gas. It needs to be heard in the policy debate.”
While upbeat on the prospects for LNG take up in Asia, including new markets such as Philippines and Vietnam, he was also concerned with the role politics could play in Northeast Asia.
He noted the experience in Germany where nuclear power plants had been closed down and mix of renewables and coal in the short term was being used instead, and this had actually increased CO2 emissions.
“Decisions that are being made in Asia now on the energy mix will have ramifications for decades to come,” he stated.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
