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World Energy Outlook 2022 The global energy crisis
…for markets, policies and economies worldwide. As so often is the case, the poorest and most vulnerable are likely to suffer most. The strains did not begin with Russia’s invasion of Ukraine, but they have been sharply exacerbated by it. Extraordinarily high prices are sparking a reappraisal of energy policies and priorities. The Europe-Russia energy relationship lies in tatters, calling into question the viability of decades of fossil fuel infrastructure and investment decisions built on this foundation. A profound reorientation of international energy trade is underway, bringing new market risks even as it addresses longstanding vulnerabilities. Many of…
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World Energy Outlook 2022 Energy security in energy transitions
Energy security is not just about having uninterrupted access to energy, but also about securing energy supplies at an affordable price. It is a topic of perennial importance, and is once again high on the policy agenda as a result of the global energy crisis sparked by Russia’s invasion of Ukraine. The surge in energy prices has been on a large enough scale to worsen considerably the global economic outlook, causing difficulties for households and industrial operations alike, and leading many governments to recalibrate their policy priorities. Energy transitions offer the chance to build a safer and more sustainable…
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World Energy Outlook 2022 Outlook for liquid fuels
…it was in 2020. Two years ago, lockdowns imposed in response to the Covid-19 pandemic caused a huge oversupply of oil, leading prices to collapse to an average of USD 44/barrel. Today, global supply is struggling to keep pace with demand, with many producers bumping up against capacity constraints and Russia’s invasion of Ukraine sharply accentuating market tightness. Prices have soared to an average of USD 105/barrel so far in 2022.Global oil use is subject to sharply conflicting pressures. Some sectors, notably aviation, are still recovering from the shock of the pandemic. Others, such as the chemical…
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World Energy Outlook 2022 Outlook for gaseous fuels
…notably Pakistan and Bangladesh. Major growth markets for gas such as India and China have meanwhile sharply reduced their LNG imports in 2022. Key findings The traditional arguments in favour of natural gas have focused on its role as a reliable partner for the clean energy transition and its ability to step in to fill the gap left by declining coal and oil. These are currently being tested by the global repercussions of Russia’s actions in Europe. In the midst of a global energy crisis, fundamental questions are now being asked about natural gas: how can supply be assured…
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World Energy Outlook 2022 Outlook for solid fuels
…Around 500 Mtce of coal consumed in 2050 is equipped with CCUS in both the APS and NZE Scenario, corresponding to around 30% of coal demand in the APS and more than 80% in the NZE Scenario in 2050. Unabated coal use drops by 99% between 2021 and 2050 in the NZE Scenario.Following the European Union ban on Russian imports, a short-lived increase in coal consumption in Europe is supplied from a variety of sources including South Africa and Colombia. The Asia Pacific region accounted for more than three-quarters of global coal imports in 2021 and this share…
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Renewables 2022 Renewable electricity
…policies in key markets, partly in response to the current energy crisis. This 85% acceleration on the last five years’ expansion rate results primarily from two factors. First, high fossil fuel and electricity prices resulting from the global energy crisis have made renewable power technologies much more economically attractive, and second, Russia’s invasion of Ukraine has caused fossil fuel importers, especially in Europe, to increasingly value the energy security benefits of renewable energy. This year’s forecast has been revised upwards by almost 30% from last year’s despite energy market turbulence, mainly because China, Europe, the United States…
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Financing Clean Energy in Africa Executive summary
…on clean energy. In recent years, African countries have had to deal with a series of overlapping crises, including the Covid-19 pandemic, the energy and food crises following Russia’s invasion of Ukraine and worsening climate risks. Borrowing costs have reached unsustainable levels in multiple countries, and debt servicing costs are now double the level of clean energy investment across the continent. Achieving the region’s energy development and climate goals requires energy investment to more than double from today’s USD 90 billion by 2030, at which point nearly two-thirds of spending would go to clean energy. Energy investment…
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Policy options to accelerate distributed solar PV in Ukraine Distributed solar PV in Ukraine
…including behind-the-meter installations, while 20 MW of new onshore wind power came online. Thus, reaching the required 24 GW of new distributed solar PV for a distributed energy system by 2030 implies that the total installed capacity more than quadruples from the estimated capacity of around 7 GW in 2024. As Russia continues to strategically target Ukrainian energy infrastructure ahead of the fourth winter since the beginning of the war, large-scale plants, both conventional and renewable, are particularly vulnerable to attacks given their size and location. The areas of highest solar PV resource potential in the country…
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Sustainable Transport for Georgia: A Roadmap Transport in Georgia: Taking stock
…Between 2010 and 2022, transport’s contribution to GDP nearly tripled, increasing from 1.4 billion GEL (520 million USD) to 4.1 billion GEL (1.52 billion USD). In 2023, transport and storage combined contributed 6.5% to Georgia’s GDP.Transport and storage employed around 8% of Georgia’s workforce in 2023. Cargo movements spurred by Russia’s 2022 full-scale invasion of Ukraine pushed up sector wages by more than 25%, above the national average, despite an 8.5% drop in employment from broader labour market shifts. Overall, Georgia’s strategic location, infrastructure upgrades and participation in…
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Energy System Resilience Executive summary
…continue should disruptions occur.The resilience measures developed in Ukraine to bolster a system under extreme stress offer universal insights that transcend the specific context of armed conflict. The scale and systematic nature of Russian attacks on Ukraine's energy infrastructure – often compounded by severe winter conditions – represent a profound challenge. Since the onset of the full-scale invasion in 2022, Russia has exploited its detailed knowledge of Ukraine's energy system – inherited from the Soviet era – to strategically target critical nodes such as electrical substations. The resulting failure in these nodes disrupts connections to key generators and requires costly…
