Science & Tech · Science & Environment · 6 hrs ago

Energy importers are expanding clean power three times faster than exporters

Energy importers are expanding clean power three times faster than exporters

Countries that import energy are increasing the share of clean sources in their energy mix faster than countries that export it.

Over the past five years, the non-fossil share rose by 2.2 percentage points in importing regions and 0.7 points in exporting regions.

China, India and Europe are among the importing regions, while the comparison includes the Middle East, North America and Russia.

Disruption to supplies through the Strait of Hormuz has added to importers’ reasons to rely less on oil and gas from abroad.

Exporting countries outside the Middle East are increasing production to make up for disrupted supply, while their shift away from fossil fuels is slower.

The forecast also sees the Middle East supplying about 40% of global oil production in 2050, down from 50% in the previous outlook.

DNV’s scenario analysis says a conflict lasting until 2030 could leave global oil and gas demand below its main forecast even after the conflict ends.

The report says solar, onshore wind and batteries are gaining ground, while wider use of hydrogen and carbon capture will need stronger policy support.

Sources

Related news