The world’s largest source of energy will be gas from the middle of the next decade. DNV GL’s Energy Transition Outlook, an independent forecast of developments in the world energy mix, predicts global oil demand to peak around the mid-2020s. This sets the stage for gas and variable renewables to become the only energy sources for which global demand is higher in 2050 than it is today.
DNV GL’s Energy Transition Outlook gives a clear message: there is no single pathway to a decarbonized energy mix. A combination of energy sources (primarily gas and variable renewables) must work together to provide the quickest route to a secure supply of affordable, decarbonized energy in the lead-up to mid-century. Gas will increasingly complement variable renewables, meeting demand in peak periods such as winter in colder climates.
Will this burgeoning partnership of energy sources be enough for the world to meet international goals for climate change? And what implications will a rapidly-changing energy mix have on the oil and gas industry?
Download the 2019 Energy Transition Outlook for detailed insight into how decarbonization of the mix will unfold. The Energy Transition 2019 Outlook also includes a special report on the implications of the energy transition on the oil and gas industry.