His address unveiled compelling insights into the potential and benefits of natural gas as a key enabler of a sustainable future.
“Natural gas is indeed a reliable and uninterrupted power supply source. It produces reliability and continuity thanks to the reserves that we have, and this source can be conceived as inexhaustible,” Romanov stated, adding that, “Natural gas requires a minimal amount of space while providing the same amount of energy outputs in comparison to other sources.”
Regarding lower emissions he pointed out that there was a direct link between the use of natural gas and low carbon intensity in the sector.
“[Gas] is the most efficient to cut down on the greenhouse emissions,” he said.
He further stated that with its lower carbon emissions, natural gas offers a cleaner and more environmentally friendly energy source, making it a vital contributor to the global transition to a low-carbon economy.
One of the key highlights of Romanov’s presentation was the versatility of natural gas and its applications across various sectors. He showcased how natural gas can be utilized not only for power generation but also as feedstock in the production of chemicals, fertilizers, and other industrial processes. The multi-faceted nature of natural gas enables its integration into diverse industries, fostering economic growth and sustainability. Playing a role in food security, Gazprom is using natural gas to produce proteins as feed additives for livestock and ammonia-based fertilizers.
As many African nations are in a position to become major natural gas players, the continent can take advantage of the energy return on investment regarding natural gas. Regarding these returns on investments, “In order to produce certain amounts of energy we need to spend certain amounts on energy – in natural gas the amount is 38 times the energy than other sources,” stated Romanov.
Exploring the advancements in hydrogen production from natural gas, Romanov demonstrated its potential to unlock a new era of sustainable energy. “More than 70% of hydrogen in the world is produced with natural gas,” he continued. By utilizing natural gas in hydrogen production and carbon capture technologies, the emissions associated with the production process can be significantly reduced, contributing to a cleaner and more sustainable hydrogen economy.