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World Energy Outlook 2016, the IEA publication, states that the global energy system will undergo major transformation in the next decades, with renewables and natural gas to be the big winners to meet energy demand by 2040
The International Energy Agency's publication, World Energy Outlook 2016, has revealed some stark realities in the global energy landscape up to 2040.
“We see clear winners for the next 25 years, natural gas but especially wind and solar – replacing the champion of the previous 25 years, coal,” said Dr Fatih Birol, the IEA's executive director. “But there is no single story about the future of global energy: in practice, government policies will determine where we go from here.”
With difficult changes being faced with government policies, particularly after the Paris Agreement on climate change, many energy sources are facing a big change.
Oil demand is expected to grow while coal demand is expected to be stagnant over the next 25 years. LNG is expected to be a key component in tackling the oil demand while renewable power generation, especially wind and solar, will deliver a new focus on electricity security.
A more detailed report on the World Energy Outlook 2016 can be found on African Technical Review.