We can create some room for manoeuver by expanding the use of carbon capture, utilisation and storage (CCUS), hydrogen, improving energy efficiency, and in some cases, retiring capital stock early. Across all regions and fuels, policy choices made by governments will determine the shape of the energy system of the future.
• By fuel, natural gas accounted for the largest increment in energy consumption, followed by renewables and then oil. This is transforming the global power mix, with the share of renewables in generation rising to over 40% by 2040, from 25% today, even though coal remains the largest source and gas remains the second-largest. This expansion brings major environmental benefits but also a new set of challenges that policy makers need to address quickly.
The future is electrifying, with low-carbon technologies on the rise and electricity demand set to grow at twice the pace of energy demand as a whole.
With higher variability in supplies, power systems will need to make flexibility the cornerstone of future electricity markets in order to keep the lights on. Carbon emissions from energy use grew by 0.5%, less than half 10-year average growth of 1.1% per year, partially reversing some of the unusually strong increase in 2018 (2.1%).
Hydroelectric consumption rose by a below-average 0.8%, with growth led by China (0.6 EJ), Turkey (0.3 EJ) and India (0.2 EJ). A new publication from the IEA presenting comprehensive world energy statistics, previously presented in Energy Statistics of OECD Countries and Energy Statistics of Non-OECD Countries, World Energy Statistics contains detailed data on all energy sources – coal, gas, oil, electricity, renewables and waste. Cobalt production was down 21.2%, largely due to a decline in the Democratic Republic of Congo. In particular, coal-fired power plants, which account for one-third of energy-related CO2 emissions today, represent more than a third of cumulative locked-in emissions to 2040. The IEA’s Sustainable Development Scenario offers a pathway to meeting various climate, air quality and universal access goals in an integrated way. India and Indonesia were the next largest contributors to growth, while the US and Germany posted the largest declines. Oil consumption grew by a below-average 0.9 million barrels per day (b/d), or 0.9%. World energy production was 14 421 Mtoe in 2018 – a 3.2% increase compared to 2017. Lithium production fell 19.2%, driven mainly by lower Australian output. The share of renewables in power generation increased from 9.3% to 10.4%, surpassing nuclear for the first time. But what will tomorrow’s power sector look like? As part of its deep-dive into the electricity sector this year, WEO 2018 also examines what impact of higher electrification in transportation, buildings and industry. Coal’s share of generation fell 1.5 percentage points to 36.4% - the lowest in our data set (which starts in 1985).
WEO 2018 includes a special focus on electricity. Wind provided the largest contribution to renewables growth (1.4 EJ) followed closely by solar (1.2 EJ).
World Energy Statistics provides comprehensive world energy statistics on all energy sources – coal, gas, oil, electricity, renewables and waste. Between 1980 and 2006, the worldwide annual growth rate was 2%. OECD iLibrary While the geography of energy consumption continues its historic shift to Asia, WEO 2018 finds mixed signals on the pace and direction of change. Global coal production rose by 1.5%, with China and Indonesia providing the only significant increases (3.2 EJ and 1.3 EJ respectively). How will it incentivise investment and ensure reliable supply, and what share of our total energy needs can ultimately be met by electricity? (Loading), USD Primary energy consumption growth slowed to 1.3% last year, less than half the rate of growth in 2018 (2.8%). Executive Summary. However, this was outweighed by a sharp fall in OECD demand which fell to its lowest level in our data series (which starts in 1965). The WEO’s scenario-based analysis outlines different possible futures for the energy system across all fuels and technologies. Across all regions and fuels, policy choices made by governments will determine the shape of the energy system of the future. It also outlines an integrated way to meet multiple sustainable development goals: limiting the global temperature rise in line with the Paris Agreement, addressing air pollution, and ensuring universal access to energy. All fuels grew at a slower rate than their 10-year averages, apart from nuclear. • Primary energy consumption growth averaged 2.2% in 2017, up from 1.2% last year and the fastest since 2013. This compares with the 10-year average of 1.7% per year.
Demand for all liquid fuels (including biofuels) rose by 1.1 million b/d and topped 100 million b/d for the first time. The WEO 2018 series features a special report on producer economies that explores how traditional oil and gas-exporting countries are adapting to a new price and policy environment, and what are the implications of longer-term structural changes in demand. The 2018 edition provides updated analysis to show what the latest data, technology trends and policy announcements might mean for the energy sector to 2040. But we also need to be much smarter about the way that we use our existing energy system. GBp Keep up to date with our latest news and analysis by subscribing to our regular newsletter. growth of global primary energy consumption, less than half the growth rate in 2018. Oil consumption growth was led by China (680,000 b/d) and other emerging economies, while demand fell in the OECD (-290,000 b/d).
“This means that if the world is serious about meeting its climate targets then, as of today, there needs to be a systematic preference for investment in sustainable energy technologies. The issue is of growing urgency as countries around the world are quickly ramping up their share of solar PV and wind, and will require market reforms, grid investments, as well as improving demand-response technologies, such as smart meters and battery storage technologies. Under current and planned policies, modeled in the New Policies Scenario, energy demand is set to grow by more than 25% to 2040, requiring more than $2 trillion a year of investment in new energy supply. It covers energy supply and consumption for 150 countries and regions, including all OECD countries, over 100 other key energy producing and consuming countries, as well as world and regional totals. By country, China was by far the biggest driver of energy, accounting for more than three quarters of net global growth. In 2018, 83% was from fossil fuel combustion, 46% of which was from only 11 sectors in 5 countries. World Energy Statistics provides comprehensive world energy statistics on all energy sources – coal, gas, oil, electricity, renewables and waste. Health, Safety, Security and Environment (HSSE), Procurement and Supply Chain Management (PSCM), Strategic planning and business development, 2Q 2020 results and strategy presentation, Trinidad Onshore Compression, Trinidad and Tobago, Section 172 statement and workforce engagement, BP Capital Markets p.l.c. Approval was partially successful, following selected items could not be processed due to error, http://instance.metastore.ingenta.com/content/publication/world_energy_stats-2018-en, https://doi.org/10.1787/world_energy_stats-2018-en, South Georgia and the South Sandwich Islands. Natural gas consumption increased by 78 billion cubic metres (bcm), or 2%, well below the exceptional growth seen in 2018 (5.3%). The analysis reviewed all current and under-construction energy infrastructure around the world – such as power plants, refineries, cars and trucks, industrial boilers, and home heaters – and finds those will account for some 95% of all emissions permitted under international climate targets in coming decades.
*Market data delayed by 20 minutes. In the companion publication World Energy Balances, data are presented as comprehensive energy balances expressed in energy units. All fuels grew at a slower rate than their 10-year averages, apart from nuclear. Coal consumption declined by 0.6% and its share in primary energy fell to its lowest level in 16 years (27%). Primary energy consumption growth slowed to 1.3% last year, less than half the rate of growth in 2018 (2.8%). Its scenario-based analysis outlines different possible futures for the energy system, contrasting the path taken by current and planned policies with those that can meet long-term climate goals under the Paris Agreement, reduce air pollution, and ensure universal energy access.
Major transformations are underway for the global energy sector, from growing electrification to the expansion of renewables, upheavals in oil production and globalization of natural gas markets. regulatory news service, Task Force on Climate-related Financial Disclosures, Advancing Low Carbon accreditation scheme, How the Advancing Low Carbon programme works, Revenue transparency and payments to governments, Health, safety and environment charting tool, Statistical Review of World Energy – all data, 1965-2019. At a time when geopolitical factors are exerting new and complex influences on energy markets, underscoring the critical importance of energy security, the World Energy Outlook 2018, the International Energy Agency’s flagship publication, details global energy trends and what possible impact they will have on supply and demand, carbon emissions, air pollution, and energy access. (Loading)*. Global energy consumption growth slowed down in 2019 (+0.6%) compared to an average 2%/year over the 2000-2018 period, in a context of slower economic growth. According to the US Energy Information Administration's 2006 estimate, the estimated 471.8 EJ total consumption in 2004, was divided as given in the table above, with fossil fuels supplying 86% of the world's energy: This was also the largest increment for any source of energy in 2019. But it would have a negligible impact on carbon emissions without stronger efforts to increase the share of renewables and low-carbon sources of power. All renewables and nuclear also increased, by 60 Mtoe and 19 Mtoe respectively. Oil markets, for instance, are entering a period of renewed uncertainty and volatility, including a possible supply gap in the early 2020s. Without such a pick-up in investment, US shale production, which has already been expanding at record pace, would have to add more than 10 million barrels a day from today to 2025, the equivalent of adding another Russia to global supply in seven years – which would be an historically unprecedented feat.