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2040 projections-I: Liquid fuel demand to go up 20%, LNG prices to remain competitive
Dec 19: As the pace of technology development continues to accelerate, new – and still uncertain – solutions are likely to emerge to contribute to meeting energy and environmental goals.
8Recent advances in technology are promoting energy efficiency gains to slow demand growth, and also opening up new energy supply options including unconventional oil and natural gas, nuclear and renewables.
8But the latest Exxon Mobil projections, released last week, show that actual energy demand is going to increase by 25% by 2040
8Demand growth will come from non-OECD nations, where energy use will rise about 40 percent, lead by the Asia Pacific region
8Importantly, supplies of oil and other liquid fuels are projected to grow 20 percent over the next quarter century, essentially matching expected growth in demand.
8The gains largely will come from technology-enabled sources, such as tight oil, deepwater and oil sands.
8As energy markets shift, North America will become a net exporter as tight oil and NGL production grows.
8Globally until 2040, LNG supplies will be highly competitive on account of many aspiring suppliers
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