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 June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Intelligent grabbing technology SmartGrip by Liebherr

For the mobile harbour crane range Liebherr has developed an intelligent system which optimises grab filling rates in a self-learning manner. In a comprehensive study,

ISS's Innovative Series of New Travel Apps for Cruise Industry

Inchcape Shipping Services (ISS) the world’s leading maritime services provider, has launched an innovative series of travel apps for the cruise industry in Greece,

ClassNK Holds LNG Fuel Technologies Seminars

ClassNk held LNG-Fuelled Vessel Technologies seminars in Shanghai and Singapore on 22 July and 24, July 2014, respectively. With the industry looking to adopt

Tanker Trends

Jones Act Tanker Chartered for Airline Refinery

Delta Air Lines Inc's refining unit has chartered a U.S.-flagged oil tanker for the first time, allowing it to tap directly into cheap Texas shale oil as the company overhauls its supply strategy.

Horizon Delivers 4th 74’ Towboat for Canal Barge Co.

Horizon Shipbuilding, Inc., Bayou La Batre, AL, has delivered the fourth in a series of 74’ towboats to Canal Barge Company, Inc. of New Orleans, LA.    The Jane

Asia VLCC Rates Could Nudge Higher on Activity

Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering

Fuels & Lubes

Tripoli Airport Ablaze, Rockets Leave Libya in Chaos

Diplomats flee Libyan chaos; Politicians appeal for international intervention. Clashes in Tripoli, Benghazi kill around 160 over two weeks, while Libyan capital face fuel, power shortages.

Europe Sleep Walking into an Energy Crisis: Analyst

The downing of flight MA17 has prompted calls for further sanctions on Russia targeted at its energy sector. Douglas-Westwood in its 'DW Monday' analysis considers

Danish Bunker Trader Joins GAC in London

GAC Bunker Fuels says it has appointed former GAC Denmark Shipping Assistant Ida Ryberg as a Bunker Trader with its UK team. Ryberg joins Andy Boichat and Resham

News

SCI Publishes Shore Leave Survey

With Maritime Labor Convention (MLC), 2006 in force, one might expect to see a reduction in the number of seafarers without visas; yet, recent data collected by

Cummins Reports Revenue Jump in Q2 2014

Cummins Inc. reported its results for the second quarter of 2014. According to the report, second quarter revenue of $4.8 billion increased 7 percent from the same quarter in 2013.

GPA Sets Tonnage Record

The Georgia Ports Authority moved more than 29 million tons of cargo, 3 million twenty-foot equivalent container units (TEUs) and more than 700,000 auto and machinery units in Fiscal Year 2014.

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
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: 0.2017 sec (5 req/sec)