emissions solutions
importance of natural gas as energy solution highlighted
1 min read | march 22, 2024
As demand for natural gas continues to grow, liquefied natural gas (LNG) is set to play a key part in helping lead the world to a lower carbon future.
Clay Neff, president of international exploration and production, explained during CERAWeek that LNG will serve as an important energy source today and into the future.
“The world is going to need all forms of energy, and natural gas will continue to play a fundamental role,” Neff said.
clay neff
president
chevron international exploration and production
what is LNG?
Natural gas is a fuel used to generate heat and electricity. When lowered to a temperature of -260° F (-162° C), natural gas becomes LNG, making it easier to transport and store.
why it matters
Natural gas powers critical industries across the world, and its use is only expected to grow. Switching from coal to natural gas for power generation can help lower carbon emissions.
meeting the need
Chevron already has a robust global LNG business. This includes LNG production in:
- Western Australia
- Angola
- Equatorial Guinea
- Eastern Mediterranean
It is increasing production in other parts of the world, such as the U.S., to distribute LNG more widely.
did you know?
Global LNG demand is expected to increase by 18% between 2021 and 2026, driven by increasing demand in Europe, according to a Bloomberg analysis.
Neff said Chevron’s LNG business is growing along with world energy needs.
“The global population is expanding and so is access to electricity. Both factors will drive increased demand for energy,” he said. “This energy needs to be lower carbon, and renewables cannot support this demand alone.”
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