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Photo courtesy Jeff Immelt

Fairfield, Connecticut, USA - December 23, 2013

Jeff Immelt, Chairman and CEO at General Electric.
Photo courtesy Jeff Immelt

By Jeff Immelt
Chairman and CEO at General Electric

Natural gas has been important to human progress since the beginning of the industrial age, but it could never hope to overtake oil and coal given the competitive advantages those fuels possessed.
Until now.

It is the dawn of the age of gas and 2014 will be a defining year.

There are only a few certainties in this world, one of them is we will always need more energy tomorrow than we have today.

We have to find it from a greater array of sources than we have in the past.
And right now gas is positioned to be the most viable solution to the world’s ever-rising energy demand.

Technological innovations have made possible the production of unconventional gas and the expansion of diverse networks connecting supply and demand on an unprecedented scale.

If we have the will to make it happen, this cleanest of hydrocarbon fuels can compete in the global energy market as successfully as oil or coal and be an important driver of productivity and economic growth.

Also its flexibility allows gas to complement renewables, balancing intermittent renewable energy supplies for when the wind is not blowing.

In 2012, global gas consumption was equivalent to 63 million barrels of oil per day, or approximately 70% of oil demand.

In GE’s Age of Gas forecast, we project natural gas will supply 26% of the world’s primary energy needs by 2025, with much of that growth driven by the greatly increased use of gas to generate electricity.

That’s a 36% increase in demand.

We have to make the right decisions today that will give gas its competitive advantage.

http://www.linkedin.com/channels/bigideas2014

Those decisions must include greater cooperation between public and private sectors to increase investment in and improve the regulatory environment for innovation, transportation and power generation, and greater international cooperation to expand and trade across gas networks.

We see four catalysts to realizing the full potential of the age of gas.

First, unleash the innovators. We have to make the necessary investments in innovation and create a network of innovators that will develop new technologies to drive down costs, increase productivity and increase speed to market.

Second, keep it clean. Natural gas will reach its full potential only if it is extracted, transported and used following best practices to ensure sustainability. We have to adapt to the lessons of the past and invest in the technology of the future to keep gas part of the solution to our environmental problems, not one of their causes.

Third, build the service ecosystems, the support services and infrastructure necessary to deliver gas to where it’s most needed and integrate transportation networks to speed gas to market reliably, quickly, efficiently, and cleanly.

Finally, harness the power of digital networks using big data to increase productivity and efficiency.

GE is making a big investment in the industrial internet – connecting brilliant machines with people at work and data analytics to create more intelligent infrastructure and drive outcomes for our customers faster.

We’re creating intelligent operations across the gas supply chain - extraction, pipelines, power generation – that greatly improve monitoring, diagnostics and predictive maintenance.

We believe these four catalysts are indispensible to seizing the extraordinary opportunities the Age of Gas presents; opportunities to completely redefine the energy landscape; to give consumers and businesses much greater access to affordable, cleaner and more secure energy; to make the world more productive, prosperous, and healthier.

We have our work set out for us in 2014.

Source: LinkedIn

http://www.linkedin.com/

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