Shift in Global Energy Predicts New Report

Press Release
Tuesday, December 11, 2012

ExxonMobil’s 'Outlook for Energy' forecasts new opportunities for international trade and economic growth.

The global energy landscape will evolve significantly as regional demand-and-supply patterns shift in the coming decades, creating new opportunities for international trade and economic growth, says newly-releaed 'Outlook for Energy: A View to 2040'.

  • Global energy demand expected to be 35 percent higher in 2040 versus 2010 as population and economy grow
  • North America likely to transition to net energy exporter by 2025
  • Oil and natural gas supplies benefit from advanced technologies and will meet about 60 percent of global energy demand in 2040

In its annual forecast, ExxonMobil projects that global energy demand in 2040 will be approximately 35 percent higher than in 2010. Future energy needs will be supported by more efficient energy-saving practices and technologies, increased use of less-carbon-intensive fuels such as natural gas, nuclear and renewables, and the development of unconventional energy sources that were previously inaccessible without technology advances.

Oil will continue to be the most widely used fuel, but natural gas -- the fastest growing major fuel -- is expected to overtake coal by 2025 as the second most used fuel. Demand for natural gas will increase by about 65 percent through 2040, and 20 percent of global production will occur in North America, supported by growing supplies of gas from shale and other unconventional sources.

The Outlook for Energy projects that North America is likely to transition to a net energy exporter by 2025. Over the next two decades, more than half of the growth in unconventional natural gas supply will be in North America, providing a strong foundation for increased economic growth across the United States, and most notably in industries such as energy, chemicals, steel and manufacturing.

These resources will also create new opportunities for global trade with countries in Europe and the Asia Pacific region, which are reliant on international markets to meet domestic energy requirements. The changing landscape and resulting trade opportunities will continue to provide consumers with more choices, value, wealth and good jobs.

Global transportation-related energy demand is predicted to rise by more than 40 percent from 2010 to 2040. The growth is almost entirely from commercial transportation -- heavy duty, aviation, marine and rail -- as expanding economies and international trade spur greater movement of goods.

More information is available here.

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Ice Coverage on Great Lakes 89 pct: NOAA

Ice coverage on the Great Lakes is nearing 90 percent, reveals high resolution satellites images from National Oceanic and Atmospheric Administration (NOAA).   The entire Great Lakes is at 88.

COMPIT to Showcase Smarter Ships, Systems & Solutions

The 14th International Conference on Computer and IT Applications in the Maritime Industries (COMPIT) will take place from 11th to 13th May 2015 in Ulrichshusen, Germany.

China's Maritime Advances Worry US

The Director of U.S. National Intelligence, James Clapper, has expressed his concern at the progress of China in maritime zones it shares with its neighbors, accused

Fuels & Lubes

ADB Okays $30mln for Pak LNG Terminal

The Asian Development Bank (ADB) has approved a $30 million project loan to Engro Elengy Terminal Private Limited, a special purpose company which will build Pakistan’s

Brightoil Reports Steady Growth in Interim Results

Brightoil Petroleum (Holdings) Limited announced its interim results for the six months ended December 31, 2014, reporting steady growth over the period.   During the period,

Lithuania Looks to U.S. for Gas

Lithuanian liquefied natural gas (LNG) importer Litgas has signed a preliminary agreement with a U.S. supplier, looking to lessen the Baltic nation's dependence on Russia.

News

Royal Navy Data Provide Insights for Arctic Science

The researchers at the National Oceanography Centre (NOC) have investigated the nature of turbulence in the ocean beneath the Arctic sea-ice using recently released

Delay in Relocating Guangzhou Shipyard

Guangzhou Shipyard International (GSI) has not commenced the relocation of its factory. According to the plan of Guangzhou city, the shipyard should have finished

Ship Carrying Cattle Sinks enRoute to UAE

A vessel carrying hundreds of cattle exported from Somalia to Saudi Arabia capsized off Oman coast on Saturday after being hit by stormy weather, according to reports from Arab media.

Intermodal

India to Appoint Coastal Shipping Consultant

As part of Narendra Modi government plan to promote coastal shipping, India is all set to appoint a consultancy firm to assist the Shipping Ministry.    The

Chassis Pools for Port of Long Beach

Three companies that own the vast majority of chassis serving the San Pedro Bay ports are on track to activate a “gray chassis fleet” of truck-trailers on March 1,

Some Roads Reopened in Brazil, Truck Strike Persists

Striking truckers lifted their blockade of dozens of highways in Brazil after police began fining and arresting protesters, though strike organizers said they had

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2606 sec (4 req/sec)