In a recently published report, Rystad Energy notes that the coronavirus pandemic should be expected to last for the entirety of 2020 and provides possible scenarios and impact on the global energy markets.
The US Energy Information Administration (EIA) in its latest February Short-Term energy outlook, estimates that the Lower 48 states’ working natural gas in storage will end in 2019-2020 winter heating season, at 1.935 billion cubic feet, meaning 12% more inventory in comparison to the previous five-year average.
According to a recent statement, Marubeni Corporation, has decided to implement the construction; operation and maintenance of the offshore wind farms at Akita Port and Noshiro Port in Akita Prefecture, through the special purpose company “Akita Offshore Wind Corporation” (AOW) established in April 2016 and together with other Joint Business Partners.
Despite the fact that certain ports in India have experienced lack of low-sulphur compliant fuel oil, India’s oil industry in general is estimated to grow during 2020. According to Wood Mackenzie, due to the increased demand of India’s oil products by about 220 kb/d, India will face a beneficial year.
It is expected that over the next few years, offshore wind power will expand impressively, helping decarbonise energy systems and reduce air pollution, according to a new report by the International Energy Agency. Dr Fatih Birol, IEA’s Executive Director, launched the Offshore Wind Outlook 2019 on 25 October.
support by smart data is said to totally transform power systems in the near future. Besides, by 2050, the world’s primary energy mix is expected to be split equally between fossil and non-fossil sources. However, which are the challenges and opportunities that data and IT systems are bringing to the energy era?
According to DNV GL’s Energy Transition Outlook, until 2050, energy from renewables will meet 50% of our energy needs, while alternative sources of energy will grow the world’s electricity transmission and distribution systems. In the following infographic you can see a timeline of the expected developments up until 2050.
In this video, Remi Eriksen, Group President and CEO of DNV GL, and Sverre Alvik, ETO Programme Director, explain the findings of the Energy Transition Outlook. They say that until 2050, energy from renewables will meet 50% of our energy needs. However, currently we are on course to miss the 2⁰C goal by Paris Agreement.
Dry natural gas production in the US is forecast to average 81.0 billion cubic feet per day Bcf/d in 2018, up by 7.4 Bcf/d from 2017 and establishing a new record high, according to EIA’s short-term energy outlook, which foresees natural gas production will continue to rise in 2019 to an average of 84.7 Bcf/d.
DNV GL today published its latest Energy Transition Outlook. According to the new Outlook, natural gas projects will receive a significant investment, while the global energy demand will peak in 2035. The increased electrification of energy demand, along with wind and solar energy, will grow the world’s electricity transmission and distribution systems. In addition, DNV GL also published the Maritime Forecast to 2050, which examines the challenges of decarbonizing the shipping industry.
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