Why it matters: Santos chief executive Kevin Gallagher predicts Australian policy-makers will soon follow the US and UK in shifting their stance on gas.
Mr Gallagher says he doesn’t think the world ‘can leave fossil fuels behind’ with gas to have an even larger role beyond 2050.
He says BHP has reviewed about 100 different scenarios and come to the same conclusion that gas will play a big role.
The chief executive of the $24 billion oil and gas group Santos says the world will always need fossil fuels in some form, and there will be a large role for gas beyond 2050.
Kevin Gallagher predicts Australian policymakers will shift their viewpoint further towards that of the United States and the United Kingdom and realise that gas will be central in a smooth and sensible transition to a lower carbon economy, and still be needed after that.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
