Global Oil and Gas Demand is Increasing in 2050

Important Forecasts from the International Energy Agency

The International Energy Agency (IEA) announced in its latest report that global demand for oil and gas may increase by 2050. This, combined with the slowdown in expectations for transitioning to clean energy sources, indicates that achieving climate targets will become more difficult.

Expected Increase in Oil Demand

According to the IEA's Current Policies scenario, daily oil demand is expected to reach 113 million barrels by 2050. This represents an increase of approximately 13 percent compared to 2024.

General Increase in Energy Demand

Global energy demand is projected to increase by 90 exajoules and rise by 15 percent from current levels by 2035. This increase is largely associated with changes in energy consumption.

Investments in Natural Gas and Export Capacity

The IEA report forecasts that final investment decisions for new liquefied natural gas (LNG) projects will rise by 2025. Approximately 300 billion cubic meters of new LNG export capacity is expected to come online by 2030, which means a 50 percent increase in current supply.

Data Centers and Investments

It is estimated that global investment in data centers will reach 580 billion dollars by 2025. This figure will exceed the 540 billion dollars spent globally on annual oil supply.