Oxford Energy Podcast – Narratives for Natural Gas in Decarbonising European Energy Markets
In this Podcast Jonathan Stern discusses the third paper in his narrative of on the Future of Gas, entitled “Narratives for Natural Gas in Decarbonising European Energy Markets?”. In conversation with David Ledesma, Professor Stern returns to the theme of decarbonisation in Europe and asserts that the time has now come for the gas industry to develop narratives for its contribution to the achievement of Europe’s carbon reduction targets. Industry has a choice; either accept that gas demand in Europe will decline after 2030, and re-focus on other expanding markets (particularly in Asia) or take a positive step towards developing and implementing decarbonisation narratives, which will convince European politicians that gas can and should maintain its position energy balances post-2030. This will mean that policy-makers will need to change regulatory frameworks to prioritise decarbonization over competition – a major change compared with the past three decades. Corporate strategies which demonstrate how the gas sector will be decarbonized on a commercial scale will need to have reached the implementation phase by the mid-2020s.