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Financing CCUS at Scale Executive summary
The current wave of investment in carbon capture, utilisation and storage (CCUS) is larger and more geographically diverse than ever before. Momentum in private capital flowing into projects is reflected in the more than 30 final investment decisions (FIDs) that have been reached in the past 2 years alone, particularly in Europe and North America, and in key sectors including transport and storage, industry, and power. Investment has grown more than 15-fold since 2020, reaching over USD 5 billion in 2025. The pipeline of projects currently under construction suggests that after years of incremental capacity additions, operational capture capacity is set…
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Gas Market Lessons from the 2022-2023 Energy Crisis Anatomy of a natural gas crisis
Sudden and drastic reduction in Russian pipeline gas deliveries to Europe In the run-up to the gas supply shock, Russian natural gas (pipeline and LNG combined) accounted for a growing share of European gas supply. Prior to 2010, Russian supply made up a relatively steady 30% of the European Union’s gas supply. However, the combination of plateauing demand and rapid decline in EU domestic production, which started in the early 2010s (linked to the decision to phase out the historical Groningen gas field in the Netherlands), led to growing dependency on gas imports across the European Union. The…
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Electricity 2026 Grids
Grids are emerging as a bottleneck for connecting supply, demand and storage A lack of grid capacity is emerging as a critical bottleneck in many regions, driving higher levels of congestion and slowing the deployment of new electricity generation, storage and demand. Grid connection queues have reached record levels worldwide. In response, this year’s report examines the range of measures that regulators and system operators are adopting to “move fast and connect things”: enabling more capacity to be integrated more quickly through regulatory reforms and deployment of technologies that can deliver rapid grid upgrades. Greater demand-side participation and…
- Executive summary
- Demand
- Supply
- Grids
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+ 4 pages
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Renewables 2022 Transport biofuels
Forecast summary Biofuel use expands in 2022 despite rising costs Global biofuel demand is expected to be 6% or 9 100 million litres per year (MLPY) higher in 2022 than in 2021. Renewable diesel makes up the largest share of this year-on-year expansion, thanks to attractive policies in the United States and Europe. Blending requirements and financial incentives support demand growth in India and Brazil, and Indonesia’s 30% biodiesel blending requirement also boosts biodiesel use in that country. Nevertheless, we have revised year-on-year growth downwards 25% from our 2021 forecast, with price and market developments…
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Global Energy and Climate Model Announced Pledges Scenario (APS)
The 2025 edition of the World Energy Outlook (WEO) does not include the Announced Pledges Scenario. Our assessment of the new round of NDCs due this year, generally the period to 2035, will follow once there is a more complete picture of these pledges.The Announced Pledges Scenario (APS), introduced in 2021, illustrates the extent to which announced ambitions and targets can deliver the emissions reductions needed to achieve net zero emissions by 2050. In the WEO-2024, the APS includes all recent major national announcements as of the end of August 2024, both 2030 targets and longer-term net zero…
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Global EV Outlook 2025 Trends in the electric car industry
Manufacturing and trade Steady growth in global electric car production masks differences at the regional level A total 17.3 million electric cars were produced worldwide in 2024, about one-quarter more than in 2023, largely as a result of increased production in China, which reached 12.4 million electric cars. China remains the world’s electric car manufacturing hub, accounting for more than 70% of global production in 2024. Production in China has been increasingly shaped by the expansion of domestic manufacturers. In 2024, Chinese OEMs accounted for more than 80% of domestic production, up from roughly two-thirds in 2021…
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Dr Sarquis José Buainain Sarquis
Ambassador, Delegate of Brazil to the OECD and other economic organisations in Paris. An economist and career diplomat since 1991, Ambassador Sarquis has worked in the fields of economics, finance, international trade, investment, and development. He has also authored papers and taught undergraduate and graduate courses in these fields.He is currently Brazil’s representative to the OECD and other international economic organisations in Paris. Previously, he was Secretary for Foreign Trade and Economic Affairs and G20 Sherpa (2020-2023) and Vice President and Chief Risk Officer at the New Development Bank (2018-2020).Ambassador Sarquis holds a PhD and a MSc in Economics from the London School of Economics and Political Science (LSE) and a BSc in Electronic Engineering from the Polytechnic School of the Federal University of Rio de Janeiro (UFRJ). He is also a graduate of Brazil’s diplomatic academy - Instituto Rio Branco.
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Global Energy and Climate Model Net Zero Emissions by 2050 Scenario (NZE)
The International Energy Agency (IEA) was asked by the COP26 Presidency in 2021 to give an indication of what achieving the 1.5 °C goal would mean for the energy sector. Responding to this request, the Net Zero Emissions by 2050 Scenario (NZE Scenario) was developed. It represents a global pathway towards the goal of limiting global warming to 1.5 °C, but not the only possible one. The IEA has always been clear that there are various paths to reach this objective and that each country will have its own route. Since 2021, the IEA has updated its NZE Scenario each year…
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Demand and Supply Measures for the Steel and Cement Transition Executive summary
The seeds for producing and using near-zero emissions materials have been planted, but acceleration is needed The industry sector requires a massive scale-up of markets for transformative near-zero emissions materials to contribute to the achievement of internationally-agreed government objectives for net zero emissions. Such scale-up requires the production and use of these materials to grow from essentially zero today to capture nearly the entire market within the next few decades, shifting away from high-emissions conventional production and demand. The steel and cement sectors account for 14% of global energy and process-related emissions on…
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Gas Market Lessons from the 2022-2023 Energy Crisis Conclusion and lessons learned
Market environment is structurally and geopolitically more fragile One of the primary and most fundamental consequences of the energy crisis is the shift into a structurally more fragile natural gas market environment, compounded by geopolitical uncertainty. The drastic reduction in Russian pipeline flows to Europe also represented a loss of traded gas volumes in the global market. Concurrently, this drove an equally significant reduction in the availability of swing production capacity that had previously provided a degree of price-responsive supply modulation to both the European and global markets. In turn, this led to an increased reliance on LNG trade…