What next for gas? The role of innovation in unlocking new opportunities for natural gas

Abstract

In the last fifteen years there have been significant swings in expectations about the role for gas in the global energy mix. Today the picture is clearer. Growing populations across the world require more energy to drive economic growth, but at the same time need to reduce pollution and deal with the potential of a more carbon-constrained world. In the coming decades then, the world will turn to natural gas as a secure, economic, and cleaner-burning energy source. In addition to these demand drivers, the emergence of natural gas as a fuel of choice has been facilitated by innovative applications of advanced technologies, better project management and new commercial strategies. Together these advances have unlocked previously inaccessible resources, enhanced environmental protection and created more viable business models. The next wave of innovation and technology deployment will provide further support for the ‘dash for gas’ and potentially offer some additional supply options to the world. Some of the more challenging approaches to gas development are already being deployed in Australia and this process is likely to continue. This, coupled with the proximity of Australian resources to Asian markets, should ensure a leading role for Australia’s energy sector through to mid-century and beyond. Realising that promise will require partnership, sound execution, continued applications of cutting-edge technologies, more innovation and an unwavering focus on operational excellence. No post-Conference video is available for this presentation.