- The recently published International Energy Agency (IEA) report has pointed out that Mozambique’s gas fields cannot be developed if global warming is to be kept to 1.5º above pre-industrial levels.
- The IEA is a highly influential body and part of OECD that represents the establishment and mainstream thinking.
The recently published International Energy Agency (IEA) report has pointed out that Mozambique’s gas fields cannot be developed if global warming is to be kept to 1.5º above pre-industrial levels. The IEA is a highly influential body and part of OECD that represents the establishment and mainstream thinking.
According the IEA report titled Net Zero by 2050, to cut global carbon dioxide (CO2) emissions to net-zero by 2050, it is required to limit the long-term rise in average global temperatures to 1.5º C, and ensure universal access to electricity and clean cooking by 2030.To achieve this, it requires that no new oil and gas fields are approved for development other than the projects already committed as of 2021.
The proposed contraction of oil and natural gas production will have adversely impact all the countries and companies that produce these fuels. The call for Net-zero will require a complete transformation of how energy is produced, transported and consumed. Under the new policy, no new natural gas fields will be needed other than those already under development. Similarly, many of the liquefied natural gas (LNG) liquefaction facilities that are under construction or at the planning stage may not be needed. It is projected that between 2020 and 2050, natural gas traded as LNG will fall by 60% and by the 2030s some gas fields may be closed prematurely or shut temporarily, the report says.
