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Growth in energy demand to 2040 Statoil suggests
Posted 21.06.2012 11:10:22 av John Bradbury
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Statoil has unveiled a major new policy statement saying it expects global growth in energy demand towards 2040.

While gas is described as “the fuel of the future” Statoil says oil will still play a big part in the energy mix: “Global energy demand is still expected to increase by more than 40% towards 2040,” the Norwegian oil major suggests.

“Fossil fuels account for the majority of the increase. Even faster growth is projected in nuclear and renewables, reflecting a steady greening of the energy mix.”

The predictions come from Statoil's newly published Energy Perspectives 2012 document, a long-term outlook for energy markets worldwide.

"Demand will increase for all types of energy. At the same time, we expect continued progress for energy efficiency, amounting to a 40% reduction in energy use per dollar of real GDP, [gross domestic product]” says Klaus Mohn, Statoil's chief economist.

Mohn predicts global growth will continue at an average of 2.8% a year in the next 30 years, close to the average of the previous 30 years. “....even though we expect a gradual slowdown in growth towards 2040,” he suggests.

“Global gas demand is projected to increase by 60% by 2040,” according to Statoil's chief analyst Eirik Wærness. “Positive drivers include significant new available supply at moderate costs and environmental policies.”

“Natural gas is the cleanest fossil fuel, and Statoil believes that natural gas will serve as an important and cost-efficient means to meet the challenge of global warming.”

But fossil fuels are predicted to have a falling share in the global energy mix: Dropping from 81% in 2010 to 73% by 2040.

But this contrasts with another challenging outlook for the world's economies published by the European Environment Agency which suggests that if the current rate of use of natural resources continues, we would need a second planet Earth to sustain the demand on natural resources by 2030. That view is explained in a newly released film, entitled Planet RE:think, made for the EEA.

To watch the film: Go to http://vimeo.com/44248559

Today the United National Conference on Sustainable development, Rio+20, opens in Rio de Janeiro, Brazil.
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