Fossil fuel use and emissions will reach record levels in 2023, says report

Fossil fuel use and emissions will reach record levels in 2023, says report



msid 111128135,imgsize 494853

LONDON: Global fossil fuel consumption and Energy Emission The industry's Statistical Review of World Energy report said on Thursday that the share of fossil fuels will reach an all-time high in 2023, although the share of fossil fuels in the global energy mix will decline slightly this year.
Rising demand for fossil fuels, despite the increasing use of renewable energy, could pose an obstacle to the transition towards lower energy consumption. Carbon Energy Global temperature increase is on track to reach 1.5 degrees Celsius (2.7 degrees Fahrenheit), beyond which scientists say impacts such as temperature rise, droughts and floods will become more severe.
“We hope this report will help guide governments, world leaders and analysts forward, and provide them with a clearer view of the challenges ahead,” said Romain Deber of consultancy firm Kearney.
Last year was the first full year of redirection of Russian energy flows away from the West following Moscow’s invasion of Ukraine in 2022, and it was also the first full year without major movement restrictions linked to the COVID-19 pandemic.
The report said overall global primary energy consumption reached an all-time high of 620 exajoules (EJ), as emissions exceeded 40 gigatonnes of CO2 for the first time.
“In a year where we have seen the contribution of renewables reach new record levels, the continued growth in global energy demand means the share coming from fossil fuels has remained virtually unchanged,” said Simon Virley of consultancy KPMG.
The report recorded changing trends in the use of fossil fuels For example, the share of fossil fuels in energy in Europe fell below 70% for the first time since the industrial revolution.
“We are seeing signs of fossil fuel demand growth in advanced economies, while the opposite is true in economies of the global South, where economic growth and improving quality of life are driving fossil fuel growth,” said Nick Veth, chief executive of the Energy Institute.
Industry body the Energy Institute, in collaboration with consultancy firms KPMG and Kearney, will publish an annual report from 2023. They took over last year from BP, which had been writing a benchmark report for energy professionals since the 1950s.
Nearly all the growth in demand in India in 2023 will be driven by fossil fuels, while fossil fuel use in China will rise 6% to a new high, the report said.
But China accounted for more than half of global growth. Renewable energy Last year this number crossed 1000.
“It is remarkable that China is using more renewable energy than the rest of the world,” KPMG's Virley told reporters.
Here are some key highlights of the 2023 report:
consumption
* Global primary energy demand will grow by 2% in 2023 from 2022 to 620 EJ.
* Fossil fuel use increased by 1.5% to 505 EJ, representing 81.5% of the overall energy mix, down 0.5% from 2022.
* Fossil fuel use will not increase in any European country in 2023.
* Electricity generation will grow by 2.5% in 2023, slightly higher than last year's 2.3% increase.
* Renewable fuel generation (excluding hydropower) rose 13% to a new record high of 4,748 terawatt-hours (TWh).
* The share of renewable energy in the overall energy mix, excluding hydro, was 8%, up from 7.5% in the 2022 report.
* Renewable energy, including hydropower, contributes 15% to the global mix.
Oil
, oil consumption Following annual growth of 2%, it will surpass 100 million bpd for the first time in 2023.
* Oil supply growth was met by non-OPEC+ producers, with US output rising 9% year-on-year.
* Last year China overtook the US as the country with the world's most refining capacity with 18.5 million bpd, though refining volumes still lag behind at 82% utilisation, while the US is behind at 87% utilisation.
* Global gasoline consumption reached 25 million bpd last year, slightly above the pre-pandemic level of 2019.
* Biofuels output set to rise 8% to 2.1 million bpd in 2023, driven by gains in the US and Brazil.
* The US, Brazil and Europe account for 80% of global biofuel consumption.
natural gas
* global Gas Production And consumption will remain relatively stable in 2023.
* LNG supplies rose nearly 2% to 549 billion cubic metres (bcm).
* The US overtook Qatar as the leading global supplier of LNG after production rose 10%.
* Total European gas demand will fall by 7% in 2023.
* Russia's share of European gas supplies will fall from 45% in 2021 to just 15% in 2023.
Coal
* Coal consumption reached a new high of 164 EJ in 2023, up 1.6% from the previous year, led by China and India.
* India's coal consumption exceeded that of Europe and North America combined.
* Coal consumption in the US will fall by 17% by 2023 and will halve over the past decade.
Renewable energy
* Record highs in renewable energy generation, driven by higher capacity for wind and solar power, are expected to increase by 67% in these two categories in 2023 compared to 2022.
* 74% of the net increase in total electricity generation came from renewable energy.
* China will account for 55% of renewable energy generation in 2023, and 63% of new global wind and solar capacity.
Emission
* Emissions increased by 2% annually to over 40 gigatonnes.
* Emissions increased despite a slight decline in the share of fossil fuels in the energy mix, with emissions in the fossil fuel category becoming more intense as oil and coal use increased and gas use remained stable.
* The report says energy emissions have increased by 50% since 2000.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Enable Notifications OK No thanks