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Renewables will erode gas usage in power and transport

Thursday, November 28, 2019

Significance

The latest World Economic Outlook 2019 (WEO) from the International Energy Agency (IEA), published on November 13, suggests that achieving emissions targets will require gas to be a transition fuel, not a lasting solution. This will reduce investment in long-term projects involving combined cycle gas turbines and gas infrastructure.

Impacts

  • Growing concern about the emissions damage from increased gas use will encourage the development of alternative low-carbon technologies.
  • Less investment in gas projects could create energy deficits unless renewable energy capacity and electricity grid construction increase.
  • Impetus will grow to develop large carbon capture and storage (CCS) projects.
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