Gas to Become World’s Primary Energy Source by 2035

7 Sep 2017   Prices

Oil and gas will be crucial components of the world’s energy future, according to DNV GL’s forecast of the energy transition. While renewable energy will grow its share of the energy mix, gas will become the largest single source of energy from 2034. DNV GL’s Energy Transition Outlook, a forecast that spans the global energy mix to 2050, predicts that global demand for energy will flatten in 2030, then steadily decline over the next two decades, thanks to step-changes in energy efficiency. Total final energy demand by mid-century is estimated at 430 exajoules (EJ), up from 400 EJ in 2015. This, relatively modest, seven percent increase contrasts with the 35 percent rise in global energy demand that has occurred over the last 15 years. The fossil fuel share of the world’s primary energy mix will reduce from 81 percent currently to 52 percent in 2050. Demand for oil will […]

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