BAKU, Azerbaijan, Sept.29
By Leman Zeynalova – Trend:
Oil is expected to retain the highest share in the global energy mix during the entire period until 2045, Trend reports with reference to OPEC’s World Oil Outlook.
Alongside post-pandemic oil demand recovery, the share of oil is anticipated to gradually increase to a level of more than 31 percent by 2025, before it begins a decline and reach 28 percent by 2045, says the cartel.
OPEC notes that demand for other renewables is projected to expand from 6.8 mboe/d in 2020 to 36.6 mboe/d in 2045, representing the single-largest incremental contribution to the future energy mix.
“Gas demand is expected to increase by 21.6 mboe/d between 2020 and 2045. This brings total gas demand to 85.7 mboe/d in 2045, thus becoming the second-largest fuel in the energy mix,” the cartel says.
The table below shows the ranking of fuel types by demand growth:
|
Fuel type |
2020 (mboe/d) |
2045 (mboe/d) |
Growth in mboe/d (2020-2045) |
|
Other renewables |
6.8 |
36.6 |
29.8 |
|
Gas |
64.2 |
85.7 |
21.6 |
|
Oil |
82.5 |
99.0 |
16.5 |
|
Biomass |
27.2 |
37.0 |
9.7 |
|
Nuclear |
14.3 |
22.0 |
7.6 |
|
Hydro |
7.5 |
10.5 |
3.0 |
|
Coal |
72.9 |
61.3 |
–11.7 |
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