Expanding prosperity for a growing world population will drive up an increase in energy demand by about 35 percent by 2030 compared with 2005, even with significant efficiency gains, ExxonMobil has said in its new edition of ‘Outlook for energy – a view to 2030’.

Natural gas will emerge as the second-largest energy source behind oil, the review said.
The growing use of natural gas and other less-carbon intensive energy supplies, combined with greater energy efficiency in nations around the world, will help mitigate environmental impacts of increased energy demand.
Oil, natural gas and coal will continue to meet most of the world’s needs during this period because no other energy sources can match their availability, versatility, affordability and scale.
The fastest-growing of these fuels will be natural gas, reflecting its abundance, versatility and economic advantages as an efficient, clean-burning fuel for power generation.
According to the ExxonMobil outlook, global energy-related carbon dioxide emissions growth will be lower than the projected average rate of growth in energy demand.
ExxonMobil chairman and chief executive officer Rex Tillerson said: “Our energy outlook clearly points to a growing demand for energy globally which reflects improving living standards for millions of people around the world.
ExxonMobil will continue to invest in technology and innovation to develop new economic energy supplies to help meet this demand while looking for ways to reduce environmental impacts.
“The forecasts also show a shift toward natural gas as businesses and governments look for reliable, affordable and cleaner ways to meet energy needs. Newly unlocked supplies of shale gas and other unconventional energy sources will be vital in meeting this demand,” Tillerson said.
The outlook for energy is developed annually to help guide ExxonMobil’s global investment decisions. The company shares the findings publicly to increase understanding of the world’s energy needs and challenges.
The outlook is the result of a detailed analysis of approximately 100 countries, 15 demand sectors and 20 fuel types and is underpinned by economic and population projections and expectations of significant energy efficiency improvements and technology advancements.
Rising electricity demand – and the choice of fuels used to generate that electricity – represent a key focus area, which will have a major impact on the global energy landscape over the next two decades.
According to the outlook, global electricity demand will rise by more than 80% through 2030 from 2005 levels. In the non-OECD (Organization for Economic Co-operation and Development) countries alone demand will soar by more than 150% as economic and social development improve and more people gain access to electricity.
Power generation is the largest and fastest growing major energy-demand sector and is likely to represent 55 percent of the total growth in demand through 2030. At that time, power generation will account for about 40 percent of total primary energy demand.
Demand for natural gas for power generation is expected to rise by about 85% from 2005 to 2030 when natural gas will provide more than a quarter of the world’s electricity needs.
Natural gas demand is rising in every region of the world but growth is strongest in the non-OECD countries, particularly China where demand in 2030 will be approximately six times what it was in 2005.
(Source: Gulf Times)
Photo: Tillerson: “… forests show a shift toward natural gas.”