OPEC Sec Gen: Global Energy Demand Seen Rising 23% Through 2045

 (Reuters) – Global energy demand is forecast to rise 23% through 2045, Haitham Al Ghais, the secretary general of the Organization of Petroleum Exporting Countries (OPEC), said on Tuesday at a Nigerian oil and gas conference.

“Global primary energy demand is forecast to increase by a significant 23% in the period up to 2045, which means we will need all forms of energy,” said Al Ghais.

“We will require innovative solutions such as carbon capture utilization and storage, and hydrogen projects in addition to a circular carbon economy, which has received a positive endorsement from the G20.”

The global oil industry needs $12.1 trillion in investment during the same period, Al Ghais said, adding the industry was not on track to reach that level of investment yet.