Our Role in the Energy Transition
The oil and gas sector has provided the world with tremendous growth and prosperity, pulling millions out of poverty and providing advancements in technology across the globe. The transition of the global energy sector from fossil fuels to more renewable energy sources seek to reduce energy related GHG emissions through various forms of decarbonization.
We believe natural gas will be the primary transitional fuel to drive down GHG emissions at scale and provide the energy density required to meet demand.
In the United States, over 70 percent of electricity is currently generated using zero or low-carbon fuels (36 percent is from nuclear energy and renewables, and 35 percent is from natural gas, which emits the least carbon dioxide of any fossil fuel when burned).
Capital markets are addressing climate risk and accelerating the energy transition by fundamentally shifting expectations for their investments and discounting the terminal value from traditional oil and gas operations.
We agree with The Department of Energy (DOE) when it states, “Whether produced via conventional or renewable methods, the advantages of natural gas as an alternative fuel include its domestic availability, established distribution network, relatively low cost, and emissions benefits.”
– Natural Gas Benefits and Considerations
In this environment, oil and gas services companies like DWS will need to strive to maintain healthy financial positions while integrating ESG strategies that focus on value-creation. We believe the energy transition provides DWS with growth opportunities. This is clearly represented by our relentless focus on Operational Excellence, Innovation, and will serve as the catalyst for our growth.