Renewables First Launches Gas As Mid-Transition Fuel The Pakistan Daily
ISLAMABAD: Renewables First is proud to announce the launch of the second chapter in their Busting the Myths series – titled: Gas as Mid-Transition Fuel. The report challenges commonly held beliefs about fossil gas and shed light on the pitfalls of investing in gas projects.
The report debunks three common myths surrounding gas as a mid-transition fuel; Gas is a clean source of energy, Gas is an essential component for transitioning to clean energy in the electric grid, and Gas is a cost-effective energy alternative.
The research provides evidence-based data and analysis that proves these myths to be unfounded, and unsubstantiated, particularly in the context of Pakistan.
The report highlights that emissions generated during the use of fossil gas occur at several points along the value chain, including pre-burning methane emissions and post-burning CO2 emissions. It reveals that the estimation of methane emissions is often on the lower end due to complex emission scenarios involving multiple leakage points in the methane value chain, leading to inaccurate assessments. It also reveals that investing in gas projects can lead to stranded assets that lock in investments, ultimately hindering progress towards a sustainable energy future. Therefore, continuing to invest in gas-based projects in these sectors is not only unnecessary but counterproductive towards achieving the global decarbonization goals. Instead, the focus should be on scaling up renewable energy sources, improving energy efficiency measures, and developing energy storage technologies.
“Investing in gas projects may seem like a short-term solution to address climate change, but in actuality, it impedes progress towards attaining a sustainable energy future. Being a nation that boasts abundant wind and solar resources, Pakistan possesses a distinctive opportunity to shift towards an eco-friendly energy future without relying on gas as a prop. Our focus must be directed towards amplifying renewable energy sources, enhancing energy efficiency measures, and pioneering energy storage technologies to achieve our decarbonization objectives”, said Basit Ghuari, Author of the series and Senior Programme Associate at Renewables First.
One of the critical findings of the report highlights the challenges facing the use of gas in the power sector of Pakistan. The analysis indicates that many gas power plants in the country need to be operating within their theoretical optimum utilisation range, significantly impacting their economic and financial viability.
This report is a must-read for policymakers, think tanks, businesses, and organizations interested in achieving a net-zero future. Additionally, it raises awareness about the negative impacts of the gas projects on the environment and economy, while advocating for directly leapfrogging to renewable energy sources.
Renewables First is a Pakistan-based think tank for energy and the environment. RF strives for a just and inclusive energy transition in Pakistan by forging collaborations between the market and the government through multi-stakeholder engagements.