Covid-19 a ‘dress rehearsal for peak oil and gas’ – Shell
The impacts of the coronavirus on energy consumption and prices hold crucial lessons for when oil and gas demand peak, says Maarten Wetselaar
Last week’s Gastech Virtual Summit was an opportunity to take the pulse of the natural gas industry at a time when decarbonisation is high on the political agenda. One clear message from Shell is that the Covid-19 pandemic has hardened its determination to accelerate its transition to a net-zero carbon company by 2050 – and preferably sooner. “If you look at what has happened, you could say it is a dress rehearsal for the moment that oil and gas demand really peak,” says Maarten Wetselaar, Shell’s director of integrated gas and new energies. He believes that peak oil and gas demand are still some way off, with demand for both commodities staging a recovery before reaching their respective pe
Also in this section
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing
26 April 2024
Slowing demand growth and capacity expansions will squeeze refiners in coming years
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields