Peak oil demand in 2022

6 Sep 2017   Peak Oil

Energy demand will plateau after 2030, according to a new DNV GL (stand 5B51) model which forecasts the pace and extent of the global energy transition until 2050. While fossil fuel will still provide more than 40% Peak of the world energy demand, the consequences of the decarbonization of the energy mix and of the flattening out of energy demand are substantial, it says. DNV GL’s new Energy Transition Outlook forecasts peak global demand for oil in 2022, and peak gas in 2035, the same year in which total global energy demand is predicted to reach its highest point before flattening, thanks to step-changes in energy efficiency. Although the oil and gas industry is predicted to continue to be an important contributor to the energy transition, there needs to be development towards enhanced efficiency with reduced costs, wastage, and use of resources in all elements, says DNV GL. “Increased […]

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