CALGARY, AB – The Canadian Association of Petroleum Producers (CAPP) has issued a statement in regards to a report by Global Energy Monitor.
According to CAPP, on July 1, 2019, Global Energy Monitor published a misleading report titled, The New Gas Boom: Tracking Global LNG Infrastructure.
CAPP shares, that the conclusions of the Global Energy Monitor’s report are factually incorrect and another deliberate attempt by a foreign-funded activist organization to discredit the Canadian oil and natural gas industry.
According to the International Energy Agency, natural gas demand is expected to increase by 43 percent and supply 25 percent of the total energy consumed in 2040. It will be the second-most important source of energy, shared CAPP.
CAPP continues to say in their statement, Canada has the strongest environmental performance among producing nations and a track record of continuous improvement and technology development. Natural gas from Canadian liquefied natural gas (LNG) has more than 50 percent lower life-cycle emissions than coal according to Pace Global 2015.
Further in the statement shared, using the Pace Global 2015, of life-cycle GHG intensities of both coal and LNG, CAPP estimates that by 2040 about 1,500 megatonnes of carbon dioxide equivalent (MtCO2e) emissions could be eliminated every year if new power plants in China, India and Southeast Asia are fuelled by natural gas instead of coal.
For every LNG facility built in Canada, global emissions are reduced by 100 MtCO2e per year. Five Canadian LNG facilities would meet or exceed our commitment under the Paris Agreement, based on incremental new power generation demand displacing coal. Canadian GHG emissions intensity from LNG facilities is expected to be even lower as a result of strong regulations, and an opportunity to electrify the upstream.
Eliminating upstream combustion emissions via electrification is made possible by connecting to a lower-emissions electricity system, which could reduce the upstream carbon intensity by approximately half.
In closing, global economies are growing and the world will need more natural gas. Canada is best positioned to ensure this demand is met with responsibly produced Canadian energy, shared CAPP.