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With changes to the global energy map and new technologies come opportunity and challenges. Challenges which include relentless energy demand growth, even in the face of widespread energy poverty, and meeting that demand reliably and affordably without threatening catastrophic climate change. This reality means that cooperation between industry and policy making will be extremely important in the coming decades.
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Strategic challenges in global energy –the contribution from the oil and gas business
Maria van der HoevenExecutive Director
© OECD/IEA 2012
GE Oil&Gas Annual MeetingFlorence, 04 February 2014
Oil and gas remains the backbone of energy supply
Growth in total primary energy demand
Coal
Gas1987‐2011
2011‐2035
Renewables
Coal
Nuclear
Oil
500 1 000 1 500 2 000 2 500 3 000Mtoe
© OECD/IEA 2012
Today's share of fossil fuels in the global mix, at 82%, is the same as it was 25 years ago; the strong rise of renewables only reduces this to around 75% in 2035the strong rise of renewables only reduces this to around 75% in 2035
Very large upstream investments are needed even with low demand growth
World liquids production by source
© OECD/IEA 2012
Energy poverty in energy rich countries
© OECD/IEA 2012
Coal is powering the Asian miracle
© OECD/IEA 2012
Abundant and well‐diversified supplies drive the growth of gas
Change in annual natural gas production
Russia
United States
China
Iraq
Qatar
Australia 2011‐20202020‐2035
Iran
Turkmenistan
Brazil
‐30 0 30 60 90 120 150 180 210 240
Algeria
bcm
© OECD/IEA 2012
Natural gas production increases in every region of the worldbetween 2011 & 2035, with the exception of Europe
Well‐functioning markets are the foundation of policy trust
© OECD/IEA 2012
Golden rules are needed to maintain acceptance of shale gas
© OECD/IEA 2012
Methane leakage can move gas from solution to part of the problem
1400
worst case leakagekg/MWh
Greenhouse gas emissions from power generation
1000
1200worst case leakagebest case leakagecombustion
600
800
400
0
200
coal gas
© OECD/IEA 2012
g
So CCS should play a major role – but is it on track?
© OECD/IEA 2012
Private sector innovation will be key for security and sustainability
© OECD/IEA 2012
Strategic challenges in global energy –the contribution from the oil and gas business
Maria van der HoevenExecutive Director
© OECD/IEA 2012
GE Oil&Gas Annual MeetingFlorence, 04 February 2014
