26 Feb 2019 10:56

Gazprom sends European Commission proposals on meeting climate goals up to 2050

MOSCOW. Feb 26 (Interfax) - Gazprom has sent the European Commission proposals on achieving its climate goals up to 2050, Oleg Aksyutin, the head of Gazprom's Department 123, said at the company's Investor Day in Hong Kong.

"Natural gas can already provide for a significant decrease in emissions. As part of the development of the European Union's low-carbon development strategy up to 2050, Gazprom has presented its proposals regarding the achievement of climate goals to the European Commission: namely, transitioning coal-based thermal and electrical generation, as well as motor fuel, to natural gas, applying methane-hydrogen fuel as one of the lowest-carbon sources of energy, and developing effective technologies for producing hydrogen from natural gas," Aksyutin said.

"Gazprom is making efforts not only to maintain its leadership in the field of low-carbon development, but also to form an energy business that would ensure the achievement of the goals of sustainable development," he said.

The European Commission's updated strategy up to 2050 envisages decreasing emissions of greenhouse gases by at least 80-95% compared to the 1990 level, ideally bringing them to zero. As much as 290 billion euros a year will be needed to implement the strategy.

Its priorities are ending the use of oil, natural gas, and coal, the burning of which generates carbon dioxide, and sharply decreasing the emission of greenhouse gases in industry and agriculture. It also envisages increasing the use of electricity to cover at least half of all energy usage, upwards of twice the current level. In addition to driving electric cars, Europeans would heat their homes in part using electricity, 80% of which would come from renewable sources and 15% from nuclear power plants.

In its current goals for 2030, the Commission calls for decreasing emissions of greenhouse gases 40% from the 1990 level. So far, they have been lowered 22%.