Exxon Mobil: Global energy demand to rise by 30 per cent

Oil&Gas Materials 5 October 2012 14:28 (UTC +04:00)

Kazakhstan, Astana, Oct. 5 /Trend D.Mukhtarov/

Global energy demand will grow by 30 per cent by the year 2040, the senior vice president of Exxon Mobil Corporation, Mark Albers said.

"By the year 2040, we expect global energy demand to be about 30 per cent higher than it is today, even when we include gains from a more efficient energy use," Albers stated during his speech at the KazEnergy Seventh Eurasian Forum in Astana, the website of KazEnergy association reported on Friday.

He said the 'world in transition' will demand our industry answering a fundamental question which is how can we best supply these growing energy needs while meeting our shared goal of responsible development.

According to Albers, by the year 2040, the global population is expected to grow by more than 25 per cent to 8.7 billion.

'Taken altogether, the universal desire for higher standards of living will likely mean that the global economy will more than double in size within three decades," Albers added.

He added that with this tremendous economic growth will come a need for affordable and reliable sources of energy.