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emissions solutions

global gas markets are changing: what it means

1 min read | march 25, 2024

Colin Parfitt, Chevron’s president of Midstream, spoke on a CERAWeek 2024 panel about the evolution of global gas markets. He took a moment after to discuss how those markets are changing.

Three key takeaways from the video:

  • Gas supports lower carbon goals through coal-to-gas switching.
  • Renewable power, such as wind and solar, is not always available. Natural gas serves as an effective backup, supporting reliability.
  • The U.S. pause on permits for new liquefied natural gas (LNG) projects is unfavorable for the climate, the economy and the country.

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