GL Noble Denton has forecast that the development of shale gas production in Britain will increase the energy sector’s dependence on carbon capture and storage as a method for reaching UK emission reduction targets.
Talking at a debate on the future of unconventional gas in London, GL Noble Denton’s Managing Director for the UK, Arthur Stoddart , said that because Britain is already heavily reliant on gas, the cleanest of all fossil fuels, the increased use of unconventional energy resources such as shale gas would be unlikely to reduce emissions in line with UK targets. He said that a greater focus would therefore need to be placed on capturing and storing the carbon emitted by the energy industry if emission reduction targets are to be met.
“ The development of shale gas production is being heralded as a transition fuel to greener energy sources. While it can bring additional energy security to the country, it is unlikely to contribute significantly to the UK’s targets of reducing carbon emissions by 80% by 2050 and decarbonisation of the power sector by 2030 ,” said Mr. Stoddart during An Unconventional Future, a panel debate hosted by industry journal Petroleum Economist and sponsored by GL Noble Denton on Tuesday.
“ The UK Government has shown support for shale gas exploration in Britain. If successful on a large scale in UK and Europe, there will be an increased reliance on carbon capture and storage as a method for decarbonising the UK’s energy generation. The UK oil and gas industry has a increasing need to develop innovative solutions for capturing carbon, if we are going to get anywhere near meeting the emission targets set, ” said Arthur Stoddart, commenting on the discussion at the event.
An Unconventional Future attracted more than 40 of the gas sector’s commercial and academic leaders, and addressed a range of key issues on the role of unconventional gas as a potential solution of the world’s increasing energy demands. Some of the UK’s leading authorities in unconventional gas development participated in the debate alongside Mr. Stoddart, including: Ajay Shah, Head of Gas Strategy and Portfolio at Shell; Dr Anouk Honore, Senior Research Fellow for the Natural Gas Research Programme at the Oxford Institute for Energy Studies; and Bill Farren-Price, Founder and CEO of Petroleum Policy Intelligence. During the debate, insightful opinions were offered over the future regulation of shale gas extraction, the effects of US shale gas development on global liquefied natural gas (LNG) markets and the impact of unconventional gas production on the price of gas in the market.
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Source: GL Noble Denton, June 14, 2011;