TotalEnergies Says Investments in Oil, Gas Projects Still Needed Until Mid 2030s
27 Settembre 2022 - 3:42PM
Dow Jones News
By Giulia Petroni
TotalEnergies SE on Tuesday said that investments in new
oil-and-gas developments will still be needed at least until the
mid 2030s in order to meet demand and avoid prices spikes, even in
a below 2-degrees-Celsius scenario.
The French major said that, in the short term, the trajectory of
global energy demand isn't going in the right direction to meet
climate goals due to the economic recovery after Covid-19
restrictions and current market disruptions.
Yet, current high energy prices have put energy efficiency at
the top of the energy policy agenda in many OECD countries, it
said. "The current crisis should be an opportunity to increase and
anchor energy saving and efficiency measures as they are the
fundamental basis of any scenario to reach the Paris agreement
objectives."
TotalEnergies said the transition to cleaner forms of energy
will require a step up in spending, with investment in low-carbon
power having to double to 2030 to reach $1.5 trillion a year.
Still, while renewables experience a higher and faster
penetration as the main drivers of the decarbonization of the
energy mix, natural gas maintains a core role in ensuring power and
pushing out coal, the company said. "Gas will become greener over
time and its growth is accompanied by carbon capture and methane
emissions control solutions," it said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 27, 2022 09:27 ET (13:27 GMT)
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