For anyone interested in the energy sector in India, it is imperative for him to keep track of the ongoing climate change negotiations in Paris.
8The outcome will have far reaching implications on India and on all energy sector stakeholders, from producers of energy to equipment and service suppliers to financiers.
8The ambition, according to a common draft, is to limit warming to 1.5 degree centigrade by the turn of the century or at least not more than 2 degrees (Click on Reports for the Draft Agreement that is now in circulation).
8Oil majors such as BP on the other hand claim that it is not possible to limit warming to two degrees anymore and it can in fact go up to an unacceptable three degrees or thereabout. Big Oil is talking of switching from coal to gas as an interim fuel but there are critics who claim that such a switch will not help curb emissions beyond a point.
8In this context, if the Paris conference promises to peg global warming at two degrees, then two scenarios are possible.
8One scenario, which is not an unlikely one, is that the warming target will not be achieved.
8The second possibility is that global resolve will be such that the energy-use matrix is changed to keep global warming under check.
8Under the second scenario, the transition to a low hydrocarbon based economy will be far quicker, thereby bringing about dramatic changes to how business is done in the energy sector.
8The oil and gas industry will also have to bear the brunt of the changes that will sweep across the world as a result of the steps to be taken to curb emissions.
8There are opportunities too to be gleaned out from the $100 billion per year transfer of funds from the developed to developing countries to target climate change. This over and above the vast amounts of the money that India will have to spend on its own to get its energy use matrix right.
8For service providers and equipment suppliers, the time has come to remain very alert:, to read everything that comes their way for telltale signs of what is in vogue and what is not, and accordingly look for opportunities.
8The good thing is that new opportunities will be available. The idea is to catch them before others do
For more details visit indianpetroplus.com
8The outcome will have far reaching implications on India and on all energy sector stakeholders, from producers of energy to equipment and service suppliers to financiers.
8The ambition, according to a common draft, is to limit warming to 1.5 degree centigrade by the turn of the century or at least not more than 2 degrees (Click on Reports for the Draft Agreement that is now in circulation).
8Oil majors such as BP on the other hand claim that it is not possible to limit warming to two degrees anymore and it can in fact go up to an unacceptable three degrees or thereabout. Big Oil is talking of switching from coal to gas as an interim fuel but there are critics who claim that such a switch will not help curb emissions beyond a point.
8In this context, if the Paris conference promises to peg global warming at two degrees, then two scenarios are possible.
8One scenario, which is not an unlikely one, is that the warming target will not be achieved.
8The second possibility is that global resolve will be such that the energy-use matrix is changed to keep global warming under check.
8Under the second scenario, the transition to a low hydrocarbon based economy will be far quicker, thereby bringing about dramatic changes to how business is done in the energy sector.
8The oil and gas industry will also have to bear the brunt of the changes that will sweep across the world as a result of the steps to be taken to curb emissions.
8There are opportunities too to be gleaned out from the $100 billion per year transfer of funds from the developed to developing countries to target climate change. This over and above the vast amounts of the money that India will have to spend on its own to get its energy use matrix right.
8For service providers and equipment suppliers, the time has come to remain very alert:, to read everything that comes their way for telltale signs of what is in vogue and what is not, and accordingly look for opportunities.
8The good thing is that new opportunities will be available. The idea is to catch them before others do
For more details visit indianpetroplus.com
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