Released June 04, 2015 | GALWAY, IRELAND
en
Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Europe's leading oil and gas companies have banded together to promote the "vital" role that gas can play in the fight against climate change.
In a joint letter to the news media, they are calling on world leaders to take a measured approach to determining a pricing mechanism for carbon emissions at the United Nations (U.N.) climate summit in Paris, in December.
It said: "We believe the pragmatic step of implementing a widespread and effective pricing of carbon emissions is critical to realizing the full and positive impact natural gas can have [on fighting climate change]."
The letter from the so-called "Big Six" is signed by the chief executives from BG Group plc (LSE:BG) (London, England), BP plc (NYSE:BP) (London, England), Eni SpA (Rome, Italy), Royal Dutch Shell (NYSE:RDS.A) (The Hague, Netherlands), Statoil ASA (NYSE:STO) (Stavangar, Norway) and Total S.A. (NYSE:TOT) (Paris, France).
"We are united in our concern about the challenge--and the threat--posed by climate change," the letter said. "We urge governments to take decisive action at December's U.N. summit. We are also united in believing such action should recognise the vital roles of natural gas and carbon pricing in helping to meet the world's demand for energy more sustainably. Our request to policy makers as they prepare for the U.N. talks is not to ask for special treatment for any resource, including natural gas, or any single route to a lower-carbon future. It is rather to ensure that the outcome of these talks leads to widespread carbon pricing in all countries."
Unsurprisingly, the letter took a pot shot at coal: "For natural gas, the case is simple: when burned to make electricity, it typically generates around half the carbon emissions of coal."
The Big Six also recognized the sharp rise in renewables: "Renewable energy has an increasing role to play--and our companies have significant investments in renewable energy too. Gas can provide the electricity base load that is required and can be a flexible partner to renewables, as efforts continue to improve the storage of electricity produced by intermittent solar or wind."
U.S. oil majors Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) and Chevron Corporation (NYSE:CVX) (San Ramon, California) ruled themselves out of joining any corporate alliance on climate change.
Exxon Chairman and Chief Executive Officer Rex Tillerson, speaking about the alliance of the Big Six, told reporters at his company's annual meeting recently in Dallas: "No thank you, that would not be us. We're not going to be disingenuous about it. We're not going to fake it. We're going to express a view that we have been very thoughtful about. We're going to express solutions and policy ideas that we think have merit."
"We don't intend to participate in that coalition," Chevron Chairman and Chief Executive Officer John Watson told investors at an annual shareholder's meeting. "We think we can make our statements, and our statements speak for themselves."
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the Industrial Info "Contact Us" page.
In a joint letter to the news media, they are calling on world leaders to take a measured approach to determining a pricing mechanism for carbon emissions at the United Nations (U.N.) climate summit in Paris, in December.
It said: "We believe the pragmatic step of implementing a widespread and effective pricing of carbon emissions is critical to realizing the full and positive impact natural gas can have [on fighting climate change]."
The letter from the so-called "Big Six" is signed by the chief executives from BG Group plc (LSE:BG) (London, England), BP plc (NYSE:BP) (London, England), Eni SpA (Rome, Italy), Royal Dutch Shell (NYSE:RDS.A) (The Hague, Netherlands), Statoil ASA (NYSE:STO) (Stavangar, Norway) and Total S.A. (NYSE:TOT) (Paris, France).
"We are united in our concern about the challenge--and the threat--posed by climate change," the letter said. "We urge governments to take decisive action at December's U.N. summit. We are also united in believing such action should recognise the vital roles of natural gas and carbon pricing in helping to meet the world's demand for energy more sustainably. Our request to policy makers as they prepare for the U.N. talks is not to ask for special treatment for any resource, including natural gas, or any single route to a lower-carbon future. It is rather to ensure that the outcome of these talks leads to widespread carbon pricing in all countries."
Unsurprisingly, the letter took a pot shot at coal: "For natural gas, the case is simple: when burned to make electricity, it typically generates around half the carbon emissions of coal."
The Big Six also recognized the sharp rise in renewables: "Renewable energy has an increasing role to play--and our companies have significant investments in renewable energy too. Gas can provide the electricity base load that is required and can be a flexible partner to renewables, as efforts continue to improve the storage of electricity produced by intermittent solar or wind."
U.S. oil majors Exxon Mobil Corporation (NYSE:XOM) (Irving, Texas) and Chevron Corporation (NYSE:CVX) (San Ramon, California) ruled themselves out of joining any corporate alliance on climate change.
Exxon Chairman and Chief Executive Officer Rex Tillerson, speaking about the alliance of the Big Six, told reporters at his company's annual meeting recently in Dallas: "No thank you, that would not be us. We're not going to be disingenuous about it. We're not going to fake it. We're going to express a view that we have been very thoughtful about. We're going to express solutions and policy ideas that we think have merit."
"We don't intend to participate in that coalition," Chevron Chairman and Chief Executive Officer John Watson told investors at an annual shareholder's meeting. "We think we can make our statements, and our statements speak for themselves."
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the Industrial Info "Contact Us" page.
