Global Energy Landscape

The global energy landscape

The world energy landscape is undergoing a dramatic transformation, driven by the need for more energy, cleaner energy and more secure sources of energy. On current trends, worldwide demand for energy is expected to rise by over 50 per cent by 2030, reaching over 17 billion tonnes of oil equivalent (TOE) per year. Power generation to supply electricity will account for around 50 per cent of the global increase and transportation fuels approximately 20 per cent.

While hydrocarbons (coal, oil and gas) will continue to dominate supply in the period to 2030, climate change is driving the pace of new technology aimed at delivering cleaner, cost-effective, carbon-reduced energy sources. The on-going extensive research and application programmes are tipping the balance towards renewable energy.

Globally, more than US$22 trillion (2006 dollars) a year will be spent supplying energy by 2030, according to the International Energy Agency (IEA). New technology driven growth sectors, including clean coal power generation, non-hydrocarbon transportation fuel (bio-fuels and fuel cells) and renewable energy (wind, wave, tide stream and bio-energy from waste) could account for more than US$2 trillion of the total, with an increasing trend.

Conventional energy projects are becoming more complex and often involve a combination of technologies. Many are located in environmentally sensitive, harsh and remote locations. In addition to new capital projects, existing assets will need to be operationally managed, maintained and repaired. By 2030, this will cost approximately US$6 trillion a year, according to estimates.

Be a globally responsible citizen – promote renewable energy sources.

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