Key role of natural gas
We support the use of natural gas as an essential fuel for generating electricity in the move to a low-emissions economy.
It emits half as much CO2 as coal.
It will play a key role in reducing GHGs, especially in generating electricity.
We drew up the company's 2016–2020 Strategic Plan for a low-emissions world. Our obvious emphasis on using natural gas as a fuel is a clear demonstration of our belief that it is the most efficient solution for bringing about a structured transition to a low-emissions future.
Repsol is in a good position compared to its competitors: our exploration and production portfolio is moving toward a higher percentage of gas than oil.
Our portfolio of gas production assets currently accounts for 63% of our production and 74% of our reserves.
Natural gas must play an immediate, key role in reducing fossil fuel emissions. However, the key to achieve this lies in reducing the methane emissions associated with production as their global warming potential is 25 times greater than CO2 over a period of 100 years.
According to the International Energy Agency, reducing methane emissions in our sector’s activities is one of the five main global opportunities for mitigating greenhouse gases in order to meet the ambitious 2ºC target.
As part of our commitment, we have joined the UN Environment Climate & Clean Air Coalition – Oil & Gas Methane Partnership. As part of this initiative, we are implementing methane emissions reduction projects in coordination with other companies, institutions, and governments. We want to break down barriers and find technically and economically viable solutions.