Energy is one of the most fundamental drivers of modern society. Yet in 2019, 770 million people worldwide had no access to electricity, according to the International Energy Agency.

To adequately power our planet in the years ahead, we’ll need to significantly increase energy supply, while also responding to the growing risks of climate change. Concerns about GHG emissions and abiding by the framework of the Paris Agreement — which seeks to keep the increase in global temperatures below 2 degrees Celsius above pre-industrial levels — will continue to encourage global energy change.

Chesapeake supports the ambitions of the Paris Agreement, recognizing that we have an important role to play in addressing climate change risks, while providing affordable, reliable energy to all. 

Natural gas’ readiness to meet global energy needs and its record as the cleanest-burning fossil fuel make it a key part of the solution for projected energy growth in a lower carbon future. Also, the U.S. natural gas industry’s environmental performance continues to improve — primarily due to voluntary emissions reductions programs, a strict regulatory environment and active stakeholder involvement — further promoting the global adoption of this fuel.

In the last 30 years in the U.S.(1):

96%

Increase in natural gas production

17%

Decrease in U.S. methane emissions

Replacing coal with natural gas for power generation has been a significant driver in this success, leading to a 30% decrease of GHG emissions since 2005.(2)

Shifting from coal to natural gas resulted in the U.S. reaching its 2025 emissions reduction target (the EPA’s response to the Paris Agreement under the Obama administration) eight years faster than projected.(3)

The U.S. is a catalyst for this type of success. Although global demand for natural gas declined in 2020 by 1.9% from 2019 levels, a rebound is expected due to fast-growing liquified natural gas (LNG) markets in Asia and other European countries. U.S.-produced natural gas is expected to help meet demand because of its lower cash costs, availability and transportation infrastructure.(4)

With a production mix weighted toward natural gas, Chesapeake is proud to be a leader in meeting global demand and addressing energy poverty, while helping to reduce global GHG emissions. 

“We firmly embrace a lower carbon future and believe our portfolio is uniquely positioned to help responsibly supply the energy that is needed across the globe today.”

– CEO Nick Dell’Osso


(1) Jacobs, Nicole. “EPA: Oil and Natural Gas Methane Emissions Fall Despite Record Production.” Energy In Depth, April 19, 2021.
(2)U.S. Power Sector Sees Impressive Carbon Emission Reductions Amid Natural Gas Growth.” Energy In Depth, accessed September 23, 2021.
(3)Power Sector Carbon Index.” Carnegie Mellon University, accessed September 23, 2021.
(4)Global Energy Review 2021: Natural Gas.” IEA, accessed September 23, 2021.

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