Industry outlook for the oil and gas industry 2019

4: Short-term incentives could accelerate long-term decarbonization

Short-term incentives could accelerate long-term decarbonization, for which momentum is building. Half (51%) the respondents to our survey say their organization will focus on actively adapting to a less carbon-intensive energy mix in 2019, up from 44% last year. More than a third (36%) will increase investment in gas this year, and more than a quarter (28%) expect greater use of hydrogen to decarbonize the gas mix in 2019. 

We also explore the dynamics of carbon capture and storage in this section. Examining how trends vary worldwide, we find, for example, that companies are now more likely to decarbonize because they are told to, rather than because they want to.