According to the data from the DNV GL’s Energy Transition Outlook 2018, global spending on energy is set to slow sharply because the world’s energy demand will decline from 2035 onwards. Find out in the video!
In its publication, DNV GL also said that the decarbonization of the energy mix would be reflected in investment trends with money spent on renewables set to triple by 2050. Sverre Alvik, Deputy Director of the Climate Action Programme at DNV GL, spoke during last year’s Offshore Energy conference, words not all oil enthusiasts wanted to hear. He claimed that the largest energy source by 2026 would be gas. He added that the energy demand would decline since the world is becoming more energy efficient. “The oil age will not end due to a lack of oil. The ice age did. Oil will not,” he said.
He predicted that there would be a cost-paring between electric vehicles and those running on combustion engines by 2024, and that transport was the focal point for oil. Although he admitted that there was a need for new oil until 2040, he said: “Oil demand will grow slowly for five years and then go flat during the 2020s. A decrease will begin in ten years’ time. “This is earlier than some estimate. Earlier than Shell which predicts oil will peak in 2030 and BP in 2040.”
Offshore Energy Conference 2019
Oil, gas, offshore wind and marine energy, all will play their part in the future of energy. Perhaps a bag of mixed ingredients, but combined in the right way, it will serve the future a more renewable outlook. Offshore Energy 2019 gives the energy transition a home and this will also be felt in the conference program. The conference offers nine sessions varying from business development to technological insights as well as the Marine Energy event, the two-day Offshore Wind Conference, and various side-events organized by our esteemed partners.
Topics will range from high level energy outlooks, which will be bolstered by technical sessions on creating the energy transition, as well as other relevant innovations regarding subsea cable developments, well abandonment, decommissioning and re-use. Head to www.offshore-energy.biz for more information.