The International Association of Oil & Gas Producers (IOGP) welcomes the historic COP21 agreement in Paris last week.
This is consistent with Association’s policy on climate change, which recognizes the inherent risks of greenhouse gas emissions and views our industry as part of the solution to the climate change issue. As part of that, we are now assessing the implications of the COP21 agreement for our membership.
Access to affordable and reliable energy is essential to human prosperity and well-being. According to the International Energy Agency, oil and gas will be a vital part of the energy mix for decades to come – even while working to the goal of keeping any rise in global temperature to below 2 degrees centigrade.
Cleaner burning natural gas for power generation is a pragmatic and efficient way to reduce greenhouse gas emissions. When used to produce electricity, gas emits roughly half of the CO2 that coal does. Gas therefore provides an ideal backup to solar power when the sun is not shining and to wind power during still periods.