During a talk at Ceraweek 2018, Fatih Birol said that it will be vital to incorporate the widespread use of carbon capture and storage (CCS) due to the global reliance of fossil fuels, such as coal, oil and gas.
Fatih Birol, executive director of the International Energy Agency (IEA), highlighted that even after 30 years, fossil fuels continue to contribute 81% of the global energy mix and therefore it is critical that carbon capture technologies, including CCS, are implemented across the globe.
During the ‘Oil Markets: As the world turns’ discussion at Ceraweek, he said: “Fossil fuels are stubborn, but we cannot keep using fossil fuels without implementing the critical technology of carbon capture and storage (CCS).”
Birol added that when the public think of climate change, they often think of energy, which is not the problem, it is emissions, which CCS will help reduce while providing power from the use of fossil fuels.
The IEA executive director said: “When it comes to climate change, the problem is not energy, it is emissions. CCS is coming back strongly.”
During the same discussion, he explained the fact that emerging markets, such as China, continue to be a driver of the coal and energy markets, reinforcing the importance of carbon capture technologies.
The discussion was concluded with Fatih Birol saying that the IEA was in talks with a number of countries, such as the UK, the US (which he said must be given recognition for its support of CCS), Canada, as well as a number of OPEC nations and several oil companies with regards to the deployment of CCS.