Inevitable? Maybe not. Worth considering? Certainly. As the energy transition gathers pace, the larger integrated oil and gas companies will need to consider the shape of their portfolios, and whether they include more grey and green molecules, to ensure longer-term sustainability.
This is not to suggest that hydrocarbons don’t have a place in the energy mix of the future. Long-term forecasts still suggest that about 75% of global energy demand will be met by hydrocarbons well into the future. So the global economy will still need oil and, to a greater extent, gas. Moreover, the importance of gas will grow given its role as a transition fuel to the low-carbon economy.