Tag: IEA

A new global energy economy is emerging, but the transformation still has a long way to go, according to IEA’s new World Energy Outlook report.

Governments need to move faster and more decisively on a wide range of policy measures to enable low-carbon hydrogen to fulfil its potential to help the world reach net zero emissions while supporting energy security, the International Energy Agency says in a new report.

With only 2% of governments’ recovery spending going to clean energy transitions, global emissions are set to surge to an all-time high by 2023, says IEA in a new report. 

After a 4% drop in 2020, natural gas demand is expected to progressively recover in 2021 as consumption returns close to its pre-crisis level in mature markets, says a new report by IEA.

Global oil demand is set to return to pre-pandemic levels by the end of 2022, rising 5.4 mb/d in 2021 and a further 3.1 mb/d next year, IEA said in its monthly Oil Report for June 2021.

Ammonia and hydrogen are considered as the main marine fuels, in case the world reaches net-zero in 2050, thus accounting for around 60% of the market, while ammonia will occupy the largest share, said the International Energy Agency (IEA).

The world has a viable pathway to building a global energy sector with net-zero emissions in 2050, but it is narrow and requires an unprecedented transformation of how energy is produced, transported, and used globally, the International Energy Agency said in a new report.

According to a new IEA report, global oil consumption is now forecast to rise by 5.4 mb/d in 2021, 270 kb/d lower than in its previous report.

International energy and climate leaders from more than 40 countries took part in the IEA-COP26 Net Zero Summit to identify how to work together to reduce global greenhouse gas emissions and meet the goals of the Paris Agreement. 

There may be no return to “normal” for the oil market in the post-Covid era, although the global economy and oil markets are recovering from the historic collapse in demand caused by COVID-19 pandemic in 2020, according to a new IEA report.