Gas, Renewables and CCS Must Work Together: An Independent Forecast of the Energy Transition Available to Purchase

Gas and variable renewables will be the only energy sources for which demand is higher in 2050 than today according to DNV GL’s independent model for the world energy system. However, they must work together alongside greater uptake of carbon capture and storage to secure a rapid energy transition. DNV GL’s Energy Transition Outlook provides a forecast of demand and supply of energy globally, and the use and exchange of energy between and within 10 world regions. It reveals there is no single pathway to a decarbonized energy mix. A combination of energy sources – primarily gas and renewables – will be the quickest route to delivering a supply of affordable, decarbonized energy in the lead-up to mid-century. As gas secures its place as the world’s largest energy source from the middle of the next decade, this paper will provide detailed insight into rapid developments in the world’s energy mix in the lead-up to mid-century. Drawing upon the latest forecasts from the company’s 2020 Energy Transition Outlook model DNV GL’s CEO for Oil & Gas, Liv Hovem, and Vice President Hans Kristian Danielsen (co-author) will explore the explore the technical and regulatory opportunities and hurdles that faces our sector as it looks to decarbonize gas to help achieve national and international targets for climate change mitigation.