The LNG industry must ensure its recognised as a part of the climate change solution, according to Woodside CEO Peter Coleman.
Speaking at the LNG2019 conference in Shanghai, China last week, Mr Coleman said LNG had a significant role to play in a low emissions future.
“LNG can displace higher emissions fuels, enable renewables and extend access to modern energy,” he said.
“This is not just about ensuring we secure markets. It’s about ensuring we are seen as being a significant contributor to reducing greenhouse gas emissions.
“Unless we act now, we run the risk of losing relevance.”
Mr Coleman said exploring new uses for LNG, such as displacing heavy fuels in ships, trucks and trains, was an important avenue for the industry to go down.
Last month, Woodside publicly opposed Western Australia’s Environmental Protection Authority (EPA) when it revised its guidance on greenhouse gas emissions contend that any project in the state emitting more than 100,000 t/a of carbon dioxide should fully offset its emissions.
The EPA backtracked on its guidelines a short time later, and Mr Coleman reiterated that moves made for the benefit of the environment needed to also consider the economic ramifications.
“To be sustainable, environmental efforts cannot be in conflict with jobs and prosperity. They must co-exist,” he said.
“To set them up as being in conflict is to doom emissions reduction efforts to failure.
“Our industry needs to show it is committed to effective action on climate change.”
For more information visit the Woodside website.
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