The global energy landscape is undergoing significant change โ€“ from the overtake of traditional demand centers from developed economies by fast-growing emerging markets to the development of technologies that are dramatically increasing the energy supply coupled with the emergence of alternative energy sources. In the near term, focus will remain on the continuing adjustment of the oil market, as the impact on supply of the significant cutbacks in investment spending on new projects over the past two years has not yet been fully felt. At the same time the response to those near-term challenges must be connected with longer-term energy transition that is taking place, including (1) continued de-carbonisation of the energy mix, (2) rapid improvements in the competitiveness of renewable energy, and (3) growth of liquefied natural gas increasing the accessibility of gas across the globe, resulting in higher growth rates expected for renewable and natural gas demand relatively to oil or coal.

Leave a Reply