The Azerbaijan State News Agency


Global energy demand to rise 25% by 2045, OPEC forecasts

Global energy demand to rise 25% by 2045, OPEC forecasts

Baku, October 4, AZERTAC

Global demand for all forms of energy is forecast to rise by 25% through 2045, Emirates News Agency (WAM) reported citing Haitham Al Ghais, Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC).

“By 2045, the world's energy demand is expected to increase by 25% from current levels, as the global population is projected to grow by approximately 1.6 billion people. This indicates that the world will need more energy in the future,” Al Ghais told the Emirates News Agency (WAM) on the sidelines of the now-running ADIPEC 2023.

Al Ghais added, “No single energy source can meet the world's growing needs as the economy expands and the population increases. That's why OPEC supports investment in both oil and renewable energy.

“OPEC will have a dedicated pavilion at the upcoming United Nations Framework Convention on Climate Change (COP28), for the first time, to showcase its work, plans, and support for the transition to a clean energy system and reducing carbon emissions.”

“Despite some setbacks, global growth continues, and we’re optimistic about future oil demand. The global economy is going through different stages, and OPEC will release updated demand forecasts next week,” he continued.

“OPEC is committed to both providing the world with energy and investing in both oil and renewable energy.”

Al Ghais emphasised that several leading countries, notably the UAE, Saudi Arabia, Kuwait, and several African nations, have successfully used technology in the oil industry. “These countries have invested in carbon capture technologies, green hydrogen, and circular economies, and are efficiently working to reduce greenhouse gas emissions.”

He underscored the need for the oil industry to continue contributing solutions to climate change challenges, noting that the UAE is a leading country in reducing carbon emissions and investing in renewable energy.

Al Ghais stated that ADNOC has made significant achievements in reducing carbon emissions, and Masdar has pioneering environmental projects, which are “clear indicators of oil-producing nations' ability to contribute to environmental preservation and emissions reduction.”

OPEC's Secretary-General reiterated his organisation's support for the UAE's hosting of COP28 and said he expects a productive conference to produce results that benefit the world.

Al Ghais emphasised the importance of ADIPEC 2023, which comes just two months before COP28. He noted that ADIPEC has highlighted the oil and gas industry's critical role in the fight against climate change.

Regarding OPEC’s vision to expand its membership base, Al Ghais mentioned that he has visited several countries recently, including Azerbaijan, Mexico, Malaysia, and Brunei, and there is also a plan to visit Russia and Brazil.

"These countries possess significant global oil production and capabilities, and OPEC believes in a policy of dialogue and consultation. Therefore, our doors remain open for any country that wishes to join and adheres to the standards outlined in OPEC's charter," he noted.

“OPEC regularly talks to oil producers in the Americas, including the United States, Canada, the United Kingdom, and Norway, because the oil market is interconnected and ensuring energy security and price stability is everyone's responsibility.”

The OPEC Secretary-General also noted that the dialogue extends to major consumers such as India, China, and the European Union, in line with OPEC's open-door policy for dialogue with all parties.

Share news on social media

Follow us on social network

UNDP launches campaign to restore Türkiye's cultural heritage in quake-hit regions

‘Oppenheimer’ to release in Japan through Indie distributor Bitters End

Milli Majlis hosts 20th meeting of Azerbaijani-Russian Interparliamentary Commission on cooperation

Azerbaijani, Estonian FMs discuss current developments in the region

Central Election Commission holds meeting to discuss snap presidential election

President Ilham Aliyev’s speech at ADA Forum in spotlight of Macedonian media

Azerbaijani male badminton players make successful start to 2024 European Men's & Women's Team Championships - Qualification in Prague

Vugar Gashimov Memorial 2023 gets underway in Azerbaijan’s Gabala city

Heydar Aliyev Center hosts final meeting of FIA General Assembly

Azerbaijan Army holds seminar on combating corruption

Azerbaijan, Council of Europe discuss current cooperation agenda

More than 12,000 killed in Sudanese conflict: UN

Rockets fired towards US embassy in Iraqi capital’s Green Zone

IOM Azerbaijan officially handed over rehabilitated karhiz in the Goranboy district

Russian delegation pays respect to Great Leader Heydar Aliyev

Türkiye’s Erdogan criticizes France over supplying Armenia armored vehicles, calls it ‘provocative’

Honda recalls over 1.13 million cars due to Denso fuel pump glitch

Palestinian authority working with US on Gaza plan

Azerbaijan, Ukraine discuss cultural heritage protection

Hunter Biden hit with federal charges for evading tax

Azerbaijani national team crowned world powersport champion

Denmark passes law to ban Quran burnings

Junior Azerbaijani gymnast wins gold at international tournament in Budapest

Erdogan: Peace-based relations with Azerbaijan would be best option for Armenia

EU to give member states authority to halt Russian gas imports - FT

Western Azerbaijan Community: US congressmen should refrain from policy of creating geopolitical competition in the region

To infinity and beyond: Tom Hanks takes Londoners to the moon with immersive show

2 more Israeli soldiers killed in ongoing battles in Gaza Strip

President Ilham Aliyev received Secretary General of Council of Europe VIDEO

Chisinau hosts presentation of Azerbaijani movie

Azerbaijan’s FM meets with outgoing Japanese ambassador

Turkish forces take out over 2,000 terrorists in 2023

Oil prices surge in world markets

Türkiye welcomes agreement on confidence-building measures between Azerbaijan, Armenia

Azerbaijani, Turkish Air Forces discuss military cooperation

SOCAR, China International Energy Group Co. Ltd discuss prospects for cooperation

Azerbaijani oil price drops in world markets

AZAL to operate flights between Baku and Doha

Italy can improve economic ties with China: Meloni

Climate activists daub mud on St Mark's Basilica in Venice

U.S. Department of State welcomes agreement between Azerbaijan and Armenia

EU High Representative for Foreign Affairs and Security Policy: Azerbaijan-Armenia agreement is an important political step

Charles Michel welcomes 'major break-through' in Azerbaijan-Armenia relations

® Baku Steel Company CJSC cooperates with SAP SE, a world leader in the field of digitalization

Officers and psychologists attend training-methodical sessions on ideological work and moral-psychological support

Azerbaijan and Armenia agree on reciprocal release of servicemen

Participants of international forum appeal to world community

Joint statement of the Presidential Administration of the Republic of Azerbaijan and the Office of the Prime Minister of the Republic of Armenia

Austin ushers in U.S.-Ukrainian defense ındustrial base partnership

Azerbaijan`s Prime Minister meets with UK Parliamentary Under Secretary of State

Sarah Paulson, Alexander Skarsgård, Eiza González, and 4 more to guest star in Amazon’s ‘Mr. and Mrs. Smith’

Azerbaijan, Austria discuss cooperation between industrial cities

Iranian President arrives in Moscow

Azerbaijan, Türkiye discuss cooperation in military education

Passenger traffic at Baku Airport for 11 months of 2023 exceeded 5.3 million people

Baku hosts second International Innovation Management and TRIZ Conference

'Killers of the Flower Moon' named best film of 2023 by National Board of Review

Magnetic surgical robot makes international debut in Chile hospital

TotalEnergies and Masdar demonstrate Methanol-to-SAF pathway with successful test flight

Turkish media highlights Azerbaijan’s contribution to reconstruction of quake-hit Kahramanmaras province

Erdogan arrives in Greece for ‘new chapter’ in relations

Economy minister: Trade turnover between Türkiye and Azerbaijan is increasing year by year

Bryansk school shooter commits suicide, three people injured — Russian Interior Ministry

Arab media outlets highlight President Ilham Aliyev’s speech at ADA-hosted forum

Xi urges enhanced political mutual trust, dialogue, cooperation with EU

Labour Ministry of Bulgaria implements large-scale investment in digital skills

Airline adverts banned over 'greenwashing' claims

President Ilham Aliyev’s speech at ADA Forum in spotlight of Georgian media

Ombudsperson comments on deportation of AZERTAC employee from New Caledonia and illegal punishment of Azerbaijani serviceman by Armenia

Resident injured in landmine blast in Azerbaijan’s Shusha city

Baku hosts court hearing on criminal case against Gagik Voskonyan - Armenian sabotage group member

Azerbaijani president calls snap election for February 7 - ORDER

SpaceX launches its 90th orbital mission of the year

Tractor hits mine in Azerbaijan’s Fuzuli district, one person injured

41 historical artifacts of Anatolian origin to return to Türkiye from US

Participants of international forum observe demining process in Azerbaijan’s Aghdam district

Italy withdraws from China's new 'Silk Road' initiative

High tech has failed to improve quality of life globally: Turkish minister

Iran’s Navy delegation visits Military Institute and one of military units

Turkish President Erdogan to visit Greece for talks

Azerbaijan relocates 25 more families to Fuzuli city VIDEO

A British financier sought for huge tax fraud is extradited to Denmark from UAE

Magnitude 5.6 quake hits Caspian Sea

President Ilham Aliyev attended Forum titled "Karabakh: Back Home After 30 Years. Accomplishments and Challenges" VIDEO

® Beneficial offers from Nar for business owners

Azerbaijani President: If Armenia demonstrates its willingness to be a good neighbor, it can preserve its sovereignty

President: Routes through Azerbaijan for many Central Asian countries are considered to be one of priorities

President Ilham Aliyev: Question how mines were transported to Karabakh after second Karabakh war remains open

President of Turkic Culture and Heritage Foundation meets with TURKPA Secretary General

Special opportunities from AZAL for passengers of Baku-Milan flight

President of Azerbaijan: Our internal situation is not dependent on external factors

President Ilham Aliyev: Azerbaijan is ready to host COP29

Azerbaijani President: Now, in these newly liberated territories, concentration is mainly on proper assessment of property

President Ilham Aliyev: Illegal economic activity in newly liberated territories, including ecological damage is in process of assessment

Azerbaijani FM meets with US Assistant Secretary of State

President Ilham Aliyev: Religious sites and property of hundreds of thousands deported Azerbaijanis must be protected

President: There must be an easy access from mainland Azerbaijan to Nakhchivan, and this is our legitimate right

President: Armenia deprives itself from opening of all communications with Azerbaijan

Baku hosts Azerbaijani-Turkish high-level military dialogue meeting

Speaker of Azerbaijan`s Milli Majlis meets with Türkiye's Justice and Development Party delegation