July 2020
Featured in this insight: Climate change & environment, Oil & gas
Low carbon liquids and gases seen as primary role for oil and gas companies by 2050: A survey by the Energy Institute (EI) has revealed that 33% of the energy professionals polled foresee that the primary role of oil and gas companies by 2050 should be 'low-carbon liquids and gases'..
The research surveyed 350 energy professionals and pre professionals who are EI members for the Energy Barometer 2020 and found that 32% believe that the future role should focus on 'new forms of energy or services' (32%), followed by 'traditional oil and gas products – plus methods to clean up the associated emissions' (17%). Fifteen percent (15%) said they foresee the primary role being 'traditional oil and gas products for hard to decarbonise sectors' by 2050.
Looking just a decade on, three in ten (30%) said they see traditional oil and gas products along with methods to clean up the associated emissions as a primary role of oil and gas companies by 2030, followed by 'traditional oil and gas products for hard to decarbonise sectors' (26%), low carbon liquids and gases (22%) and new forms of energy or services (22%).
Respondents were also asked about their views on shale gas exploration and development in the UK, with 41% saying that the process should not be pursued, up ten percentage points on last year when it was 31%. Around one in six (59%) said it should be 'pursued in some form'.
The figures show a change in attitudes across five years of the survey being conducted, with 79% saying shale gas should be explored five years ago, and just 16% saying it should not be.
View more of our sector specific insights: Climate change & environment, Oil & gas
