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The International Energy Agency’s annual benchmark for tracking energy investment, World Energy Investment 2019 provides a full picture of today’s capital flows and what they might mean for tomorrow’s energy sector. It assesses whether the frameworks and strategies put in place by governments, the energy industry, and financial institutions are spurring timely investment, and how spending across sectors and technologies matches with the world’s energy security and sustainability needs.
This year’s edition looks at trends in investment and financing in 2018 across all areas of energy supply, efficiency, and research & development, key markets and sectors driving these trends, from electricity in Asia to fuel supply in North America, as well as the sectors and regions where energy capital flows are constrained. The analysis also examines how industry is responding to investment risks and opportunities, including through shorter-cycle oil and gas projects, financial risk management strategies for renewable power, financing models for energy efficiency, and in capital allocation decisions across sectors. And it looks at the implications of today’s trends, such as whether investment is sufficient to satisfy the world’s growing demand for energy, and whether enough capital is going into energy efficiency, renewable energy, and other low-carbon technologies to accelerate the pace of global energy transitions.
The worldwide economic shock caused by the Covid-19 pandemic is having widespread and often dramatic effects on investments in the energy sector. Based on the latest available data, the International Energy Agency's World Energy Investment 2020 provides a unique and comprehensive perspective on how energy capital flows are being reshaped by the crisis, including full-year estimates for global energy investment in 2020.
Now in its fifth edition, the World Energy Investment report is the annual IEA benchmark analysis of investment and financing across all areas of fuel and electricity supply, efficiency, and research and development. In addition to a full review of the 2019 trends that preceded the crisis, this year’s analysis highlights how companies are now reassessing strategies – and investors repricing risks – in response to today’s profound uncertainties and financial strains.
The energy industry that emerges from this crisis will be significantly different from the one that came before. The vulnerabilities and implications vary among companies, depending on whether they are investing in fossil fuels or low-carbon technologies, as well as across different countries. The new report assesses which areas are most exposed and which are proving to be more resilient. The analysis also provides crucial insights for governments, investors and other stakeholders on new risks to energy security and sustainability, and what can be done to mitigate them.
This year’s edition of the World Energy Investment report presents the latest data and analysis of how energy investment flows are recovering from the shock of the Covid-19 pandemic, including full-year estimates of the outlook for 2021. It examines how investors are assessing risks and opportunities across all areas of fuel and electricity supply, efficiency and research and development, against a backdrop of a recovery in global energy demand as well as strengthened pledges from governments and the private sector to address climate change.
The report focuses on two key questions:
- Whether the growing momentum among governments and investors to accelerate clean energy transitions is translating into an actual uptick in capital expenditures on clean energy projects.
- Whether the energy investment response to the economic crisis caused by the Covid-19 pandemic will be broad-based or if some sectors, geographies and vulnerable parts of the world’s population will be left behind.
This year’s edition of the World Energy Investment report provides a full update on the investment picture in 2021 and full-year estimates of the outlook for 2022. It examines how investors are assessing risks and opportunities across all areas of fuel and electricity supply, critical minerals, efficiency and research and development, against a backdrop of uncertainties over how events will play out in 2022, namely the ongoing war in Ukraine, the outlook for the global economy, and in some countries the continuing public health risks from the pandemic.
The report focuses on some important features of the new investment landscape which are already visible, including the energy security lens through which many investments are now viewed, widespread cost pressures, the major boost in revenues that high fuel prices are bringing to traditional suppliers, and burgeoning expectations in many countries that investments will be aligned with solutions to the climate crisis.
This year’s edition of the World Energy Investment provides a full update on the investment picture in 2022 and an initial reading of the emerging picture for 2023.
The report provides a global benchmark for tracking capital flows in the energy sector and examines how investors are assessing risks and opportunities across all areas of fuel and electricity supply, critical minerals, efficiency, research and development and energy finance.
It focuses on some important features of the new investment landscape that are already visible, including the policies now in place that reinforce incentives for clean energy spending, the energy security lens through which many investments are now viewed, widespread cost and inflationary pressures, the major boost in revenues that high fuel prices are bringing to traditional suppliers, and burgeoning expectations in many countries that investments will be aligned with solutions to the climate crisis.
This 2000 edition of the World Energy Outlook presents probable developments from now to the year 2020. It also represents an important methodological advance. The 1998 and earlier editions were based on a "business-as-usual" approach, which projected energy trends in a world where no new policies were enforced to limit climate change. This year’s WEO offers a new "reference scenario", which takes into account those greenhouse gas policies that have been adopted and are now in place in OECD countries. Alternative cases are also presented. These consider the effects of potential climate-change policies for transport and electricity generation sectors. Another important section studies the potential effects of schemes for trading emission permits among developed countries.
The recent surge in energy prices is drawing attention once again to the availability and security of energy resources and the prospects for both supply and prices. World Energy Outlook: 2001 Insights – a follow-up to the acclaimed World Energy Outlook 2000 – takes a detailed look at all these issues. It analyses the main factors driving energy production and distribution, including the cost of developing resources and bringing them to market, energy pricing and the impact of government policies.
The study’s central finding is that reserves of oil, gas, coal and uranium are more than adequate to meet projected demand growth at least until 2020. But massive investment in energy production and transportation infrastructure will be needed to exploit these reserves. The capability, and willingness, of Middle East oil producers to exploit their low-cost reserves is a major source of uncertainty. For gas, the cost of supply and the impact of technology will be critical. There is a huge potential for expanding the supply of renewable energies if strong government backing can achieve steep reductions in their cost. Beyond 2020, new technologies such as hydrogen-based fuel cells, clean coal burning and carbon sequestration hold out the prospect of abundant and clean energy supplies in a world largely free of climate-destabilising carbon emissions.
The International Energy Agency’s World Energy Outlook has long beenrecognised as theauthoritative source for projections of global trends in energy supply and demand, trade and investment and carbon dioxide emissions. For the first time this year’s Outlook extends its projection horizon to the year 2030. Against the background of the re-emergence of energy security as a global concern, this Outlook highlights the rapidly expanding importance of China as a strategic buyer on world oil and gas markets, the fact that a quarter of the world’s population still lacks modern energy services, the huge investments needed to maintain dependable energy supplies world wide, and the scale of the task facing those countries that are committed to reducing their greenhouse-gas emissions under the Kyoto Protocol.
World energy demand will raise by two-thirds between now and 2030, and the world economy will falter if these energy supplies are not available. How much investment will be required to satisfy this need and can it be financed?
The WEIO 2003 from the IEA answers these questions in a first-ever attempt to quantify global energy investment needs, fuel by fuel and region by region.
The numbers are daunting. The global financial system has the capacity to fund the required investment, but are the conditions right?
The International Energy Agency’s World Energy Outlook 2005 answers these challenging questions. In addition to providing updated projections of world energy demand and supply to 2030, it analyses in detail prospects for:
• The Middle East and North Africa’s domestic demand for oil, gas and electricity, including for water desalination.
• The region’s oil and gas resources, plans and potential for production and how much investment will be required.
• Energy-sector developments in Algeria, Egypt, Iran, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, and the United Arab Emirates.
• What would happen if upstream oil investment is delayed.
• What would happen if consuming countries, driven by security concerns, persistent high prices or environmental policies, act to curb demand and develop alternatives.
The producing countries in the Middle East and North Africa can count on growing demand for their oil and gas. Are energy importing countries’ expectations of them realistic?
This 2006 edition of IEA's annual World Energy Outlook presents two visions of the energy future. Will it be under-invested, vulnerable and dirty, or clean, clever and competitive? This edition of WEO responds to the remit of the G8 world leaders by mapping a new energy future, contrasting it with where we are now headed. WEO 2006 shows how to change course. It counts the costs and benefits - and the benefits win.
World Energy Outlook 2006 also answers these questions:
- Is the economic reaction to high energy prices merely delayed?
- Is oil and gas investment on track?
- Are the conditions shaping up for a nuclear energy revival?
- Can biofuels erode the oil monopoly in road transport?
- Can 2.5 billion people in developing countries switch to modern energy for cooking?
- Is Brazil learning new lessons or teaching the world?
With extensive statistics, detailed projections, analysis and advice, WEO 2006 equips policy-makers and the public to re-make the energy future.
World leaders have pledged to act to change the energy future. Some new policies are in place. But the trends in energy demand, imports, coal use and greenhouse gas emissions to 2030 in this year’s World Energy Outlook are even worse than projected in WEO 2006. China and India are the emerging giants of the world economy. Their unprecedented pace of economic development will require ever more energy, but it will transform living standards for billions. There can be no question of asking them selectively to curb growth so as to solve problems which are global. So how is the transition to be achieved to a more secure, lower-carbon energy system? WEO 2007 provides the answers. With extensive statistics, projections in three scenarios, analysis and advice, it shows China, India and the rest of the world why we need to co-operate to change the energy future and how to do it.
The World Energy Outlook (WEO) 2008 draws on the experience of another turbulent year in energy markets to provide new energy projections to 2030, region by region and fuel by fuel. It incorporates the latest data and policies. WEO-2008 focuses on two pressing issues facing the energy sector today:
-Prospects for oil and gas production: Through field-by-field analysis of production trends at 800 of the world’s largest oilfields, an assessment of the potential for finding and developing new reserves and a bottom-up analysis of upstream costs and investment, WEO-2008 takes a hard look at future global oil and gas supply.
-Post-2012 climate scenarios: Two different scenarios are assessed, one in which the atmospheric concentration of emissions is stabilised at 550 parts per million (ppm) in CO2 equivalent terms and the second at the still more ambitious level of 450ppm. The implications for energy demand, prices, investment, air pollution and energy security are fully spelled out. This ground-breaking analysis will enable policy makers to distill the key choices as they strive to agree in Copenhagen in 2009 on a post-Kyoto climate framework.
The International Energy Agency's authoritative annual global energy projections. This 2009 edition analyses what the economic crisis will mean for energy markets and how the transition to a clean global energy system can be financed. It focuses on three specific areas: financing energy investment under a post 2012 climate framework, prospects for natural gas markets, and energy trends in Southeast Asia.
The world appears to be emerging from the worst economic crisis in decades. Many countries have made pledges under the Copenhagen Accord to reduce greenhouse-gas emissions. Commitments have also been made by the G-20 and APEC to phase out inefficient fossil-fuel subsidies. Are we, at last, on the path to a secure, reliable and environmentally sustainable energy system?
Updated projections of energy demand, production, trade and investment, fuel by fuel and region by region to 2035 are provided in the 2010 edition of the World Energy Outlook (WEO). It includes, for the first time, a new scenario that anticipates future actions by governments to meet the commitments they have made to tackle climate change and growing energy insecurity.
WEO-2010 shows:
· what more must be done and spent to achieve the goal of the Copenhagen Accord to limit the global temperature increase to 2°C and how these actions would impact on oil markets;
· how emerging economies – led by China and India – will increasingly shape the global energy landscape;
· what role renewables can play in a clean and secure energy future;
· what removing fossil-fuel subsidies would mean for energy markets, climate change and state budgets;
· the trends in Caspian energy markets and the implications for global energy supply;
· the prospects for unconventional oil; and
· how to give the entire global population access to modern energy services.
With extensive data, projections and analysis, WEO-2010 provides invaluable insights into how the energy system could evolve over the next quarter of a century. The book is essential reading for anyone with a stake in the energy sector.
World Energy Outlook 2011 brings together the latest data, policy developments, and the experience of another year to provide robust analysis and insight into global energy markets, today and for the next 25 years. This edition of the IEA’s flagship WEO publication gives the latest energy demand and supply projections for different future scenarios, broken down by country, fuel and sector. It also gives special focus to such topical energy sector issues as:
• Russia's energy prospects and their implications for global markets.
• The role of coal in driving economic growth in an emissions-constrained world.
• The implications of a possible delay in oil and gas sector investment in the Middle East and North Africa.
• How high-carbon infrastructure “lock-in” is making the 2°C climate change goal more challenging and expensive to meet.
• The scale of fossil fuel subsidies and support for renewable energy and their impact on energy, economic and environmental trends.
• A “Low Nuclear Case” to investigate what a rapid slowdown in the use of nuclear power would mean for the global energy landscape.
• The scale and type of investment needed to provide modern energy to the billions of the world’s poor that do not have it.
Industry and government decision-makers and others with a stake in the energy sector all need WEO-2012. It presents authoritative projections of energy trends through to 2035 and insights into what they mean for energy security, environmental sustainability and economic development.
Oil, coal, natural gas, renewables and nuclear power are all covered, together with an update on climate change issues. Global energy demand, production, trade, investment and carbon dioxide emissions are broken down by region or country, by fuel and by sector.
Special strategic analyses cover
-What unlocking the purely economic potential for energy efficiency could do, country by country and sector by sector, for energy markets, the economy and the environment.
-The Iraqi energy sector, examining both its importance in satisfying the country’s own needs and its crucial role in meeting global oil and gas demand.
-An examination of the cost of delaying action on climate change.
-The water-energy nexus,as water resources become increasingly stressed and access more contentious.
-Measures of progress towards providing universal access to modern energy services.
There are many uncertainties; but many decisions cannot wait. The insights of WEO‑2012 are invaluable to those who must shape our energy future.
A new global energy landscape is emerging, resetting long-held expectations for our energy future. Incorporating these recent developments and world-class analysis, World Energy Outlook 2013 presents a full update of energy projections through to 2035 and insights into what they mean for energy security, climate change, economic development and universal access to modern energy services. Oil, coal, natural gas, renewables and nuclear power are all covered, along with an update on developments in subsidies to fossil fuels and renewable energy.
This year World Energy Outlook also gives a special focus to topical energy sector issues:
-Redrawing the energy-climate map: the short-term measures that could keep the 2°C target within reach, and the extent to which low-carbon development could leave fossil-fuel investments stranded. Special report to be released 10 June.
-Energy in Brazil: how a vast and diverse resource base – from renewables to new offshore discoveries – can meet the growing needs of the Brazilian economy and open up new export markets.
-Oil supply, demand and trade: a fresh look at the economics and decline rates of different types of oil production around the world, the prospects for light tight oil inside and outside North America, along with new analysis of oil products and the refining sector.
-The implications for economic competitiveness of the changing energy map: what the major disparities in regional energy prices might mean for major energy-intensive industries and the broader impact on economic growth and household purchasing power.
-The global spread of unconventional gas supply, including the uptake of the IEA “Golden Rules” to address public concerns about the associated environmental and social impacts.
-Energy trends in Southeast Asia, a region that is exerting a growing influence in the global energy system. Special report to be released 23 September.
The World Energy Outlook is recognised as the most authoritative source of strategic analysis of global energy markets. It is regularly used as input to the development of government policies and business strategies and raises public awareness of the key energy and environmental challenges the world is facing.