Nov 20, 2024 (MENAFN via COMTEX) --
(MENAFN - Trend News Agency) BAKU, Azerbaijan, November 20. Natural gascurrently fulfills 23% of the world's primary energy needs, saidMohamed Hamel, Secretary General of the Gas Exporting CountriesForum (GECF), at the COP29 summit in Baku, Trend reports.
He highlighted the indispensable role of natural gas in theglobal energy landscape, underscoring its contributions to economicgrowth, environmental sustainability, and food security. "Naturalgas drives economic growth, improves living standards, reduceshousehold pollution, enhances urban air quality, and lowersgreenhouse gas emissions".
Hamel emphasized the role of natural gas as a reliable partnerfor intermittent renewable energy sources, ensuring stability whensolar, wind, or hydropower systems falter. He also highlighted itspotential for decarbonizing hard-to-abate industries throughcost-effective blue hydrogen and its critical importance to globalfood security as the primary feedstock for fertilizers.
"As the world's population grows and economies expand, the needfor natural gas will increase, not decrease," Hamel affirmed.
The SecrGen referenced the Algiers Declaration, adopted at the7th GECF Summit, which called for strengthened collaboration amongmember countries to enhance the role of natural gas in sustainabledevelopment. The Declaration also urged the removal of barriers totimely investments, financial flows, and access to technology in afair and equitable manner.
Hamel stressed that the outcomes of COP29 should facilitatefinancing for natural gas projects and the adoption of cleanertechnologies such as carbon capture, utilization, and storage(CCUS). "This is essential for achieving just, inclusive, andorderly energy transitions that leave no one behind," heconcluded.
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