Strategic challenges in global energy –the contribution from the oil and gas business

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With changes to the global energy map and new technologies come opportunity and challenges. Challenges which include relentless energy demand growth, even in the face of widespread energy poverty, and meeting that demand reliably and affordably without threatening catastrophic climate change.

This reality means that cooperation between industry and policy making will be extremely important in the coming decades.

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Strategic challenges in global energy –the contribution from the oil and gas business

  1. 1. Strategic challenges in global energy –the contribution from the oil and gas business Maria van der Hoeven Executive Director GE Oil&Gas Annual Meeting Florence, 04 February 2014 © OECD/IEA 2012
  2. 2. Oil and gas remains the backbone of energy supply Growth in total primary energy demand 1987‐2011 Gas 2011‐2035 Coal Renewables Oil Nuclear 500 1 000 1 500 2 000 2 500 3 000 Mtoe Today's share of fossil fuels in the global mix, at 82%, is the same as it was 25 years  ago; the strong rise of renewables only reduces this to around 75% in 2035 the strong rise of renewables only reduces this to around 75% in 2035 © OECD/IEA 2012
  3. 3. Very large upstream investments are needed even  with low demand growth World liquids production by source © OECD/IEA 2012
  4. 4. Energy poverty in energy rich countries © OECD/IEA 2012
  5. 5. Coal is powering the Asian miracle © OECD/IEA 2012
  6. 6. Abundant and well‐diversified supplies drive  the growth of gas Change in annual natural gas production China United States Russia 2011‐2020 2020‐2035 Australia Qatar Iraq Brazil Turkmenistan Iran Algeria ‐30 0 30 60 90 120 150 180 210 240 bcm Natural gas production increases in every region of the world between 2011 & 2035, with the exception of Europe © OECD/IEA 2012
  7. 7. Well‐functioning markets are the foundation of  policy trust © OECD/IEA 2012
  8. 8. Golden rules are needed to maintain acceptance  of shale gas © OECD/IEA 2012
  9. 9. Methane leakage can move gas from solution to  part of the problem 1400 kg/MWh 1200 Greenhouse gas emissions from power generation worst case leakage best case leakage combustion 1000 800 600 400 200 0 coal g gas © OECD/IEA 2012
  10. 10. So CCS should play a major role – but is it on  track? © OECD/IEA 2012
  11. 11. Private sector innovation will be key for security  and sustainability © OECD/IEA 2012
  12. 12. Strategic challenges in global energy –the contribution from the oil and gas business Maria van der Hoeven Executive Director GE Oil&Gas Annual Meeting Florence, 04 February 2014 © OECD/IEA 2012

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