27th November 2024
Steven Vallender at IAM UK Chapter Conference 2024
Our Director of Asset, Steven Vallender, recently spoke in a keynote at The Institute of Asset Management’s UK Chapter Conference 2024. This is following a piece he wrote for the IAM’s magazine, which took a closer look at gas’ role in net zero ambitions. The theme for this year’s conference was “Asset Management Excellence in a Changing World - from starting out to world class”, which couldn’t have been timelier.
In his speech, Steven looked toward the changing face of the energy sector. Often called a "bridge," he explained how, as we move towards net zero, natural gas can provide the security and stability needed to support renewables while ensuring people and industries get the energy they need. In the first quarter of 2024, gas contributed 34% of the UK’s electricity generation, and more broadly, steps in when renewables are intermittent as the sun is not shining and the wind is not blowing.
Gas has a more foundational role to play, too. Hydrogen is emerging as a low carbon alternative, filling the vital role that natural gas would leave in powering industry and fuelling power stations. At National Gas, we are working hard to test this. Our FutureGrid project demonstrates the potential of hydrogen blending, having tested a 2%, 5% and 20% blend last year, and showing the possibility of 100% hydrogen transmission as being safe and effective at scale. Accompanying this is Project Union, which aims to repurpose our existing transmission pipeline to create a low-cost, 1,500 mile long hydrogen network to provide secure, safe and reliable energy.
Steven’s article that was published in IAM’s magazine explores this further. You can read the full article here: https://publications.cplone.co.uk/IAM/202408/#p=14