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Fossil fuel use and emissions set to hit records in 2023: report

  • June 20, 2024
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energy emissions And World fossil fuel consumption reached record highs in 2023, despite their share in the global energy portfolio decreased slightly per year, according to the reportStatistical

Fossil fuel use and emissions set to hit records in 2023: report

energy emissions And World fossil fuel consumption reached record highs in 2023, despite their share in the global energy portfolio decreased slightly per year, according to the reportStatistical Review of World Energy‘ energy industry.

growing demand for fossil fuelsdespite the growth of renewable energy, may become a stumbling block to reducing carbon dioxide emissions, since Global temperature rise reaches 1.5 degrees Celsiusthe threshold beyond which scientists believe impacts such as rising temperatures, droughts and floods will become more extreme.

“We hope this report will help governments, world leaders and analysts move forward with their eyes wide open.” in the face of the challenge before us,” said Romain Debarre of the consulting firm Kearney.

Last year marked the first full year that Russian energy flows were redirected from the West since Moscow’s 2022 invasion of Ukraine, and the first full year without major travel restrictions related to the COVID-19 pandemic.

Global primary energy consumption reached a record level of 620 exajoules. (for example), according to the report, while Emissions exceeded 40 gigatons of CO2 for the first time.

Simon Virley from consultancy KPMG commented:

In a year in which we have seen the contribution of renewable energy reach a new record, continued growth in global energy demand means that the share of fossil fuels has remained virtually unchanged.

The report documents changing trends in fossil fuel use across different regions. In Europe, for example, the share of fossil fuels in the energy sector has fallen to less than 70% for the first time since the Industrial Revolution.

“In advanced economies, we are seeing signs that demand for fossil fuels is peaking, in contrast to economies in the Global South.where economic development and improved quality of life continue to drive growth in fossil fuel use,” said Nick Waite, executive director of the Energy Institute.

The Energy Institute, together with consulting firms KPMG and Kearney, will publish an annual report starting in 2023. Last year They take over from BP BP.L, which since the 1950s has produced the report that has become a reference for energy professionals.

According to the report, fossil fuels account for almost all of the growth in demand in India in 2023, and in China fossil fuel use grew by 6%, reaching a new high.

But China also accounted for more than half of the global increase in renewable energy production. last year.

“China is adding more renewable energy than the rest of the world combined, which is remarkable,” KPMG’s Virli told reporters.

Below are some of the Highlights from the report:

Consumption

  • Global primary energy demand increased by 2% in 2023 compared to 2022, to 620 EJ.
  • Fossil fuel use rose 1.5% to 505 e, representing 81.5% of global energy, down half a percentage point from 2022.
  • Fossil fuel use did not increase in any European country in 2023.
  • Electricity production grew 2.5% in 2023, slightly higher than the previous year’s 2.3% growth.
  • Electricity production using renewable fuels (excluding hydropower) increased by 13%. to a new record of 4,748 terawatt-hours (TWh).
  • The share of renewable energy sources in the entire energy mix, excluding hydraulics, was 8%, compared to 7.5% in 2022.
  • If hydropower is included, renewable energy accounts for 15% of the global energy mix.

Oil

  • Oil consumption exceeded 100 million barrels per day in 2023 for the first time in history, following a 2% year-on-year increase.
  • Oil supply growth was led by non-OPEC+ producers, with US production increasing by 9% annually.
  • Last year, China overtook the United States as the country with the world’s largest oil refining capacity, at 18.5 million barrels per day.
  • Last year, global gasoline consumption reached 25 million barrels per day, slightly above pre-pandemic levels in 2019.
  • Biofuel production rose 8% to 2.1 million bpd in 2023, driven by growth in the United States and Brazil.
  • The USA, Brazil and Europe account for 80% of global biofuel consumption.

Natural gas

  • In 2023, global gas production and consumption remained relatively stable.
  • LNG supplies rose nearly 2% to 549 billion cubic meters (bcm).
  • The United States has overtaken Qatar as the world’s leading LNG supplier after increasing production by 10%.
  • Global gas demand in Europe fell by 7% in 2023.
  • Russia’s share of gas supplies to Europe was only 15% in 2023, compared to 45% in 2021.

Coal

  • Coal consumption reached a new high of 164 in 2023, up 1.6% from the previous year, driven by China and India.
  • India’s coal consumption has exceeded that of Europe and North America combined.
  • U.S. coal consumption fell 17% in 2023 and has halved over the past decade.

Renewable

  • Record levels of renewable electricity production were driven by increases in wind and solar power capacity, with capacity additions in these two categories 67% higher in 2023 than in 2022.
  • Up to 74% of the net growth in total electricity generation comes from renewables.
  • China accounted for 55% of all renewable energy additions in 2023, as well as 63% of the world’s new wind and solar capacity.

Emissions

  • Emissions increased by 2% annually, exceeding 40 gigatons.
  • Emissions increased despite a slight decline in the share of fossil fuels in the energy mix, as emissions in the fossil fuel category increased as oil and coal use increased while the share of gas remained stable.

Reuters

Source: Aristegui Noticias

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