Page 6 - GLNG Week 10 2023

GLNG GLOBAL GLNG

Global energy sector emissions

reach new high in 2022

GLOBAL GLOBAL energy-related CO2 emissions increased cooling and heating demand in
reached a new record in 2022 of 36.8bn tonnes, extreme weather, nuclear power plants (NPPs)
Lower gas-related inching up 0.9% from the previous year’s level, being offline and industrial production curtail-
emissions were more the International Energy Agency (IEA) reported ment, particularly in China and Europe.
than offset by higher oil last week. Emissions from natural gas fell by 1.6%,
and coal emissions. The rise was chiefly the result of soaring gas reflecting reduced demand because of high
prices, which led more countries to ramp up coal prices. Europe saw a decline of 13.5%, after
use, while oil demand recovered as governments having to resort to other fuels to cope with the
ended lockdown measures. It came despite loss of Russian gas supply. Natural gas-related
increased deployment of new wind, solar and emissions in the Asia-Pacific region fell by 1.8%
other low-carbon technologies. – an unprecedented decline considering it is the
Despite emissions rising to a new height, the fastest-growing market for gas. Europe secured
IEA said the growth had not been as great as it extra LNG last year that would otherwise have
had anticipated. Emissions fell 5% in 2020, as a gone to Asia, which responded by stepping up
result of COVID-19 lockdowns, only to rise once coal-fired power generation.
more by 6% in 2021. The decline in natural gas emissions was more
“In a year marked by energy price shocks, than offset by a 1.6% increase in coal emissions.
rising inflation and disruptions to traditional Meanwhile, CO2 emissions from oil climbed by
fuel trade flows, global growth in emissions was 2.5%, with half of this rise caused by a recovery
lower than feared, despite gas-to-coal switching in air travel from a pandemic low.
in many countries,” the IEA said. “Increased Chinese emissions dropped by a slight 0.2%
deployment of clean energy technologies such last year, while the EU reduced its emissions by
as renewables, electric vehicles [EVs] and heat 2.5%. US emissions rose by 0.8%. Emissions
pumps helped prevent an additional 550mn from Asia’s emerging market and developing
tonnes in CO2 emissions.” economies, excluding China, grew more than in
There were also other factors such as any other region, by 4.2%. ™

P6 www. NEWSBASE .com Week 10 09•March•2023