Covid-19 a ‘dress rehearsal for peak oil and gas’ – Shell

The impacts of the coronavirus on energy consumption and prices hold crucial lessons for when oil and gas demand peak, says Maarten Wetselaar

Last week’s Gastech Virtual Summit was an opportunity to take the pulse of the natural gas industry at a time when decarbonisation is high on the political agenda. One clear message from Shell is that the Covid-19 pandemic has hardened its determination to accelerate its transition to a net-zero carbon company by 2050 – and preferably sooner. “If you look at what has happened, you could say it is a dress rehearsal for the moment that oil and gas demand really peak,” says Maarten Wetselaar, Shell’s director of integrated gas and new energies. He believes that peak oil and gas demand are still some way off, with demand for both commodities staging a recovery before reaching their respective pe