India Energy Week 2024: OPEC Secretary General says global energy demand to soar 23% by 2045
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The global energy demand will rise between now and 2045 by 23% and require about $14 trillion in investments over the next 20 years to meet global energy demands, OPEC’s Secretary General Haitham al-Ghais said. Speaking at the India Energy Week in Goa, he added that the oil demand will also continue to rise.
#OPEC #IndiaEnergyWeek pic.twitter.com/cVdavZfNF9
— OPEC (@OPECSecretariat) February 7, 2024
He participated in the panel session titled “Ensuring energy security for nations and industry in a VUCA (volatility, uncertainty, complexity, and ambiguity) world.” He noted that the need for energy security and reducing emissions go hand-in-hand.
Also read: Global spending on clean energy hit record $1.8 trillion, still falls short of reaching net zero
“The world needs an all energies, all technologies approach to energy transitions. An inclusive and balanced approach to energy transitions was vital for all nations and peoples.”
HE Haitham Al Ghais, OPEC SG, and HE Hardeep Singh Puri, India’s Minister of Petroleum and Natural Gas, held a bilateral meeting on the sidelines of India Energy Week 2024, emphasizing the tremendous value of the strategic cooperation and dialogue between India and OPEC.
— OPEC (@OPECSecretariat) February 7, 2024
The two… pic.twitter.com/fN8N4Zm0uj
Al-Ghais highlighted that many nations are working to triple their renewable energy capacity. Still, no single renewable source will be able to carry the weight of the growth of the global energy demand.
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