{"id":521890,"date":"2021-08-03T07:03:16","date_gmt":"2021-08-03T11:03:16","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ihs-markit-ability-of-natural-gas-infrastructure-to-be-converted-to-carry-low-carbon-fuels-will-enable-gas-to-become-a-second-pillar-of-decarbonization-alongside-renewables\/"},"modified":"2021-08-03T07:03:16","modified_gmt":"2021-08-03T11:03:16","slug":"ihs-markit-ability-of-natural-gas-infrastructure-to-be-converted-to-carry-low-carbon-fuels-will-enable-gas-to-become-a-second-pillar-of-decarbonization-alongside-renewables","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ihs-markit-ability-of-natural-gas-infrastructure-to-be-converted-to-carry-low-carbon-fuels-will-enable-gas-to-become-a-second-pillar-of-decarbonization-alongside-renewables\/","title":{"rendered":"IHS Markit: Ability of Natural Gas Infrastructure to be Converted to Carry Low-Carbon Fuels Will Enable Gas to Become a \u201cSecond Pillar\u201d of Decarbonization Alongside Renewables"},"content":{"rendered":"

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IHS Markit: Ability of Natural Gas Infrastructure to be Converted to Carry Low-Carbon Fuels Will Enable Gas to Become a \u201cSecond Pillar\u201d of Decarbonization Alongside Renewables<\/b><\/p>\n

Carbon reduction benefits of switching to natural gas in the near-term could support deeper decarbonization over the longer-term, acting as a \u201cpre-build\u201d of infrastructure needed to support emissions goals, IHS Markit study finds<\/i><\/p>\n

LONDON–(BUSINESS WIRE<\/a>)–
\nThe inherent versatility of gas infrastructure\u2014particularly its ability to be converted to carry low-carbon fuels in the future\u2014creates an opportunity for gas to be a \u201csecond pillar of decarbonization\u201d over the long-term, according to a new study by IHS Markit (NYSE: INFO), a world leader in critical information, analytics and solutions.\n<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210803005194\/en\/<\/a><\/p>\n

\"Gas<\/p>\n

Gas can be used in a variety of sectors to reduce carbon emission intensity. Costs vary widely but many of the proposed uses could be economically viable within the range of $40-$60 per ton of carbon. Using natural gas in power generation instead of coal reduces emissions sometimes at negative costs. SOURCE: IHS Markit (Photo: Business Wire)<\/p>\n<\/div>\n

\nEntitled A Sustainable Flame: The Role of Gas in Net Zero<\/i><\/a>, the new study says that natural gas can play a critical role both in early action on emissions reductions and also acting as a pre-build to greater decarbonization given the potential for the infrastructure to carry low-carbon gases\u2014such as ammonia, hydrogen, synthetic methane and renewable natural gas\u2014in the future.\n<\/p>\n

\nSpecifically, the study finds that these low-carbon gas applications could be viable with a carbon price between $40-$60 per ton, close to levels already found in some markets today.\n<\/p>\n

\n\u201cThe versatility of natural gas infrastructure presents an opportunity to seize the low-hanging fruit of emissions reduction in the near-term while also making a down payment for deeper decarbonization,\u201d said Michael Stoppard, chief strategist, global gas, IHS Markit. \u201cSwitching to natural gas can support vital early action by replacing coal and oil and their associated higher emissions while also acting as a pre-build of energy carriers for a low-carbon future.\u201d\n<\/p>\n

\nReplacing older and less efficient power plants with best-in-class natural gas generation reduces emissions by 50% per unit of electricity. The IHS Markit study finds that increasing natural gas use in power generation in Asia to displace coal could cut emissions by around 1 Gt\u2014around 3% of all GHG emissions from the energy sector. This would require an increase in global gas production of about 15% from today\u2019s level.\n<\/p>\n

\nWhile substituting natural gas for higher-emitting fuels has an immediate and discernible impact on GHG emissions, some express concern that these investments may embed or lock in future emissions for several decades. However, the study finds that these \u201clock-in\u201d concerns need not be the case because the infrastructure can be repurposed:\n<\/p>\n