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Significant growth in the global middle class, expansion of emerging economies and an additional 2 billion people in the world will contribute to a 35% increase in energy demand by 2040, according to ExxonMobil’s latest Outlook for Energy report. The OECD represents the developed economies. Click to enlarge. Outlook for Energy.
Based on the interim results of a new study, MIT researchers are warning smaller nations to proceed with caution in pursuing the development of their natural gas resources. The interim report analyzed the economics of natural gas project development options in Cyprus with a focus on exports. —Sergey Paltsev. Click to enlarge.
The global benchmark levelized cost of electricity, or LCOE, has retreated to where it was in 2019. New-build onshore wind and solar projects are now around 40% lower than BNEF’s global benchmarks for new coal- and gas-fired power. There is also a risk that lesser-developed economies will be disproportionately affected by price hikes.
Commenting on the news, Richard Thompson, Editorial Director at MEED, part of GlobalData, said: For nearly a century, the Gulf’s abundant supplies of accessible hydrocarbons has put it at the center of a gas-guzzling global economy. Territories that were largely desert in the middle of the 20th century are now thriving oil economies.
Over the past few years I’ve published assessments of the hydrogen strategies of multiple jurisdictions, including the United States, Australia, Japan, Morocco, Algeria, Egypt, the EU, and the Canadian province of Ontario, among others. News of the German chancellor coming, cap in hand, begging for liquid natural gas and hydrogen.
That’s according to 2023 IEEE President Saifur Rahman , who was among the speakers from engineering organizations at the COP27 event held in Egypt in November. Rahman, a power expert and professor of electrical and computer engineering at Virginia Tech , is the former chair of the IEEE ad hoc committee on climate change.
Semiconductors, green hydrogen, renewable energy, electronics, MSMEs, and electric mobility are some of the focus areas for the summit. It will generate green jobs, making Gujarat a leading exporter of green energy products and contributing to making the state into a USD 3 trillion economy. This will lead to 1.7 lakh to one million.
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