trending Market Intelligence /marketintelligence/en/news-insights/trending/vPqxHTYOGiMJzYIgOstzGw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Industry must bolster argument for long-term role of US gas, BP exec says

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

Industry must bolster argument for long-term role of US gas, BP exec says

The U.S. natural gas industry must reduce carbon emissions throughout the supply chain as the sector seeks to secure its place in a world that has increasingly focused on combating climate change, BP Energy Co. Inc. President and CEO Orlando Alvarez said.

Alvarez's call to action during an Oct. 15 keynote address at LDC Gas Forums' Gulf Coast Energy Forum underscored how an array of policy challenges has unsettled the natural gas sector.

"There is an increasing concern that gas could be marginalized," said Alvarez, who is the head of BP PLC's North American gas marketing and trading business and the chairman of the Natural Gas Supply Association.

"Some folks are saying gas conflicts with the world's climate ambitions," he said. "I think it is a misconception. I think it's misleading. I think [gas] has a role in the future of lower-carbon energy."

One key role that gas can play is providing fuel for electric power generation that supports the rise of intermittent renewable energy generators, Alvarez said. The argument has been made by others, including former U.S. Energy Secretary Ernest Moniz in a recent plan for pragmatic action on climate change. In its closely watched report "Statistical Review of World Energy 2019," BP projected a scenario that would see renewables and natural gas account for almost 85% of the growth in primary energy through 2040.

"It is not a race to renewables — it is a race to lower carbon emissions," Alvarez said at the New Orleans event. "It cannot be all about renewables."

But he said the gas industry needs to do a better job making its case at a time when there is a rise in anti-gas measures. These include promises from Democratic presidential candidates to move away from fossil fuels, state decisions to withhold permits from pipeline projects, and cities' proposed bans on gas service in new buildings and other electrification efforts. In such an environment, it is critical that the industry improve its carbon footprint on its own, Alvarez said.

"As an industry, we have to get methane down," Alvarez said, adding that regulations could end up requiring that anyway.

Alvarez outlined BP's measures to reduce carbon emissions, including executive compensation and technologies tied to this goal. The company is participating with other oil and gas majors in the Oil and Gas Climate Initiative, which calls for policies and market mechanisms that put a price on carbon and spur technological innovation to lower carbon emissions. BP has pledged to invest $500 million each year on low-carbon energy.

"Think about what you are doing, what your respective companies are doing, and if there is more that we should be doing as an industry," Alvarez told attendees.