BAKU, Azerbaijan, February 23. Gas can play a vital role in the efforts to reduce carbon emissions in Europe and Central Asia, the World Bank says, Trend reports.
According to the latest research from the WB, specifically, gas can contribute by replacing coal, reducing wasteful energy use, mitigating life-cycle greenhouse gas emissions, and integrating with carbon capture, utilization, and storage, especially in power generation and blue hydrogen production.
Natural gas serves as the cornerstone of the region's energy system, making up 46 percent of the primary energy supply in ECA overall (34 percent when Russia is excluded), the WB noted.
This percentage of gas use in the region is notably higher than the 24 percent observed in the EU. Thus, the WB experts think that gas will maintain its significant role in the region's energy mix for at least the next two decades. It will persist in being utilized for balancing purposes in power and as a feedstock in the industry, extending well into 2060 and beyond, even in the midst of a transition towards achieving net-zero emissions.
However, as the bank analysts pointed out, relying on gas in the medium term poses challenges for energy security in the ECA region.
The balance between gas supply and demand is tightening, particularly with production pressures in Russia and Central Asia, the WB explains. Simultaneously, the ongoing dependence on gas imports in certain parts of the ECA region - and the potential emergence of new forms of dependence, as seen in Central Asia - raises unsettling questions about the reliability of gas supplies in the coming years.