IEA: $600 billion needed to cut global oil and gas emissions
14:45 16.05.2023 8491
Analysts at the International Energy Agency (IEA) estimate that halving the emission intensity of the world’s oil and gas production will require an investment of $600 billion.
The IEA has estimated that in 2022, the activities of oil and gas companies led to the emission of 5.1 billion tons of carbon dioxide (CO2) equivalent. Global energy-related emissions amounted to 40 gigatons. Thus, the oil and gas industry is responsible for almost 15% of CO2 emissions in the energy sector.
IEA experts offer five directions for reducing emissions by 2030. Among them, the key is the reduction of methane emissions, one of the factors in increasing the global temperature on the planet. Flaring of associated gas should also be reduced. It is proposed to use it by alternative methods – to deliver it to consumers, to re-inject it to maintain reservoir pressure, and also to convert it into liquefied gas and use it to generate electricity.
In addition, IEA analysts propose electrifying fields and related infrastructure through a centralized energy-efficient grid and renewable energy sources, expanding the use of low-emission hydrogen in refineries, equipping oil and gas production with carbon capture, utilization and storage.
State Concern «Turkmengas» to Sign Contract with Turkish Company for Construction of Shatlyk-1 Gas Compressor Station
Turkmenistan President Serdar Berdimuhamedov signed a decree authorizing State Concern «Turkmengas» to sign a contract with Çalik Enerji Sanayi ve Ticaret A.Ş. (Turkey) for the design, construction and equipping of the Shatlyk-1 gas compressor station in the country's Mary region.
Preparations for the VI Caspian Summit discussed
The issues of preparation for the VI Summit of the Heads of the Caspian States within the framework of the events planned in Turkmenistan for 2022 were discussed on Tuesday at a meeting of the interdepartmental commission on the Caspian Sea, the website of the Foreign Ministry of Turkmenistan reports.
Gurbanguly Berdimuhamedov held a meeting on expanding Turkmen gas export routes
The issues of expanding export routes for the supply of Turkmen natural gas were discussed at a meeting held on Tuesday by President Gurbanguly Berdimuhamedov with the participation of Vice-Chairmen of the Cabinet of Ministers for the fuel and energy complex, economy and foreign policy, the State News Agency of Turkmenistan reports.
Preparations for the implementation of energy projects discussed at talks in Islamabad
The issues of practical implementation of the projects of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline and the Turkmenistan-Afghanistan-Pakistan (TAP) power transmission lines were discussed in Islamabad by the delegation of Turkmenistan, which, on behalf of President Gurbanguly Berdimuhamedov, is on a working visit to Pakistan on January 31 – February 4, informs the website of the Foreign Ministry of Turkmenistan.
Tajikistan intends to increase imports of liquefied natural gas from Turkmenistan
Tajikistan, which has so far imported liquefied natural gas mainly from Kazakhstan and Russia, will now expand the geography of supplies, Minister of Energy and Water Resources of the Republic Juma Daler said at a press conference, Interfax reports.