![]() Renewables are coming of age, with wind and solar expanding fast, but even by 2040 in our WOO they are only estimated to make up around 19% of the global energy mix. The stark statistics related to the blight of energy poverty do not tell us this either. It is important to state clearly that the science does not tell us this it tells us that we need to reduce emissions and use energy more efficiently. That the future is one that can be dominated by renewables and electric vehicles. There are clearly some who believe the oil and gas industries should not be part of our energy future that we should be consigned to the past. This is why Shell will continue to invest in oil and gas, even as we work to help speed progress to a lower-carbon future.” A world where no one is left behind.Īs Ben van Beurden, CEO of Shell, said at this conference yesterday: “The world needs oil and gas because it is what the world relies on for so much including, often, its most basic needs of heat and food and shelter. We need to transition to a more inclusive world in which every person has access to energy. We need to all work together, step-by-step, find issues of commonality and appreciate what is at stake. We need to think carefully about what an energy transition actually means and we all need to follow the right paths to lead us to a sustainable energy future. It is our deeply held conviction that dialogue on this matter should be inclusive and broad to try and evolve this energy transition in the least disruptive manner. We see it as a positive development that climate change issues have garnered increased public attention and enthusiasm. All 14 OPEC Member Countries have signed the Paris Agreement and ten have ratified it. OPEC remains fully engaged and supportive of the UNFCCC and the Paris Agreement, which remain the only viable global frameworks to address climate change. As responsible citizens of the globe, we also believe there is ‘no planet B’. OPEC takes climate change extremely seriously. We do not deny the existence of climate change. ![]() Standing here before you today, I think it is important to state clearly OPEC’s position on climate change and the much talked about energy transition. The world needs more energy, but this needs to be done in an ever more efficient and sustainable way taking on board the challenges posed by climate change to our future. Today, however, as referenced by the theme of this year’s conference, ‘Strategies for the Energy Transition’, the energy industry finds itself at a crossroads. In OPEC’s most recent World Oil Outlook ( WOO), we see global energy demand increasing by around 33% by 2040.Įnergy will remain central to our daily lives the lifeblood that enables us all to function and prosper. Moreover, three billion people still lack access to low-emission fuels for cooking. We should also not forget that energy poverty remains a scourge of our time: even though, positively, the UN Secretary General’s progress report on the Sustainable Development Goals (SDGs) recently noted that the total number of people with access to electricity fell below one billion in 2017, there is much work still to be done. ![]() And world population is projected to reach around 9.2 billion, an increase of around 1.5 billion from today’s level. The global economy in 2040 is expected to be double the size it was in 2018. This remains true as we look at the decades to come. ![]() Over the four decades of this conference the energy landscape has changed a great deal, but one thing has remained constant: the ever-increasing need for stable and secure energy supplies as populations have expanded and economies have grown. I would like to thank the Chair of this session, Amena Bakr, for her generous introduction, as well as the organizers, Energy Intelligence, for the invitation to speak to such a distinguished audience. This year’s event is a milestone the 40 th edition of this leading energy industry conference. Returning to my second home, London, in early October, it can only be for one thing: the annual Oil & Money conference. Delivered by HE Mohammad Sanusi Barkindo, OPEC Secretary General, at the Oil & Money Conference, Session: Strategies for the Energy Transition: ‘Perspectives on a Changing Energy Landscape’, 10 October 2019, London, England. ![]()
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