World Energy Outlook 2011.pdf - Thomas Piketty

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FSC ® C031289 The paper used for this document and the forest from which it comes have received FSC certification for meeting a set of strict environmental and social standards. The FSC is an international, membership-based, non-profit organisation that supports environmentally appropriate, socially beneficial, and economically viable management of the world’s forests. © OECD/IEA, 2011 IEA PUBLICATIONS PRINTED IN FRANCE BY SOREGRAPH, November 2011 (61 2011 24 1P1) ISBN: 978 92 64 12413 4 Cover design: IEA. Photo credits: © Image100/GraphicObsession
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WORLD ENERGY 2 0 11 OUTLOOK
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FOREWORD It is the job of governmen
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ACKNOWLEDGEMENTS © OECD/IEA, 2011
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© OECD/IEA, 2011 Alexey Biteryakov
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© OECD/IEA, 2011 James Jensen Jan-
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© OECD/IEA, 2011 Jeff Piper Oleg P
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Liu Xiaoli Vitaly Yermakov Shigehir
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CONTEXT AND ANALYTICAL FRAMEWORK 1
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Trade 136 Trends in oil and gas pro
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9 Implications of Russia’s energy
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Electricity access - financing on-g
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3.5 Average annual change in transp
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5.19 Renewables grid integration co
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8.13 Changes in Russian natural gas
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11.14 Cumulative coal-supply invest
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List of tables Part A: GLOBAL ENERG
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10.5 CO 2 emissions from coal combu
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8.5 The “Northern Route” to mar
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Comments and questions are welcome
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EXECUTIVE SUMMARY “If we don’t
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Rising transport demand and upstrea
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Treading water or full steam ahead
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Achieving energy for all will not c
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PART A GLOBAL ENERGY TRENDS PREFACE
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CHAPTER 1 CONTEXT AND ANALYTICAL FR
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East and North Africa, a region tha
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© OECD/IEA, 2011 Chapter 1 - Conte
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The New Policies Scenario should no
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on welfare programmes. While this i
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6.8 billion in 2009 to around 8.6 b
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Energy prices The evolution of ener
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Natural gas prices Historically, na
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Figure 1.2 Ratio of average natura
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© OECD/IEA, 2011 In the 450 Scenar
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CHAPTER 2 ENERGY PROJECTIONS TO 203
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In the 450 Scenario, global energy
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Figure 2.4 World energy-related CO
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Box 2.1 The impact of lower near-t
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SPOTLIGHT © OECD/IEA, 2011 What ar
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Figure 2.7 Shares of energy source
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of the total in 2035, the absolute
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© OECD/IEA, 2011 In Latin America,
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adoption of hybrids (32% of passeng
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Figure 2.12 Incremental energy dem
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Figure 2.14 Incremental world ener
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production continue to clarify the
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stabilising thereafter, to settle a
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The answer will depend on China’s
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investment needs are not as high, b
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Energy-related emissions Greenhouse
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© OECD/IEA, 2011 Chapter 2 - Energ
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CHAPTER 3 OIL MARKET OUTLOOK Will i
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the assumed higher GDP growth, howe
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Policies Scenario, OECD primary dem
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Chapter 13 for a discussion of ener
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if large-scale projects were succes
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Passenger light-duty vehicles Passe
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countries own a car today, while av
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Box 3.1 The future of car making T
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wait-and-see strategy in a still na
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eserves additions amounted to 29 bi
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Figure 3.15 World oil production i
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© OECD/IEA, 2011 By country, Iraq
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in production from older fields. Ru
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States (US DOE/EIA, 2011a). Of cour
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Europe’s production decline is we
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have acknowledged that the target l
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© OECD/IEA, 2011 this potential wi
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© OECD/IEA, 2011 Chapter 3 - Oil m
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and most of the easily accessible o
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egions where international oil comp
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Trends in upstream spending differ
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Impact of deferred upstream investm
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good by other regions. Higher oil a
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atios of gas and coal prices to oil
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Oil demand falls much less in volum
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than offset by higher oil prices (a
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CHAPTER 4 NATURAL GAS MARKET OUTLOO
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decreases through the projection pe
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Middle East (included in “other e
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Figure 4.4 Primary natural gas dem
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Table 4.3 Primary natural gas prod
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Table 4.4 Primary natural gas prod
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production growth in Iran is likely
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projections of the New Policies Sce
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of additional unconventional gas su
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SPOTLIGHT Do all roads lead to a Go
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CHAPTER 5 POWER AND RENEWABLES OUTL
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Around 80% of the growth in electri
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Figure 5.2 Share of world electric
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Figure 5.4 Incremental global coal
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driving the growth in this technolo
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wind power producer. Generation fro
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In OECD countries, the reduction in
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© OECD/IEA, 2011 Chapter 5 - Power
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Box 5.1 Costs of integrating varia
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of renewables can also improve capa
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Focus on T&D infrastructure Robust
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years and this is set to continue.
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© OECD/IEA, 2011 Chapter 5 - Power
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total system integration costs (see
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systems, smart grids can also incre
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CHAPTER 6 CLIMATE CHANGE AND THE 45
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Box 6.1 What is special about 2°C
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© OECD/IEA, 2011 was driven by eco
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Table 6.1 World anthropogenic gree
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over 6 000 terawatt hours (TWh) in
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Efficiency policies are by far the
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Union in the 450 Scenario). China a
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SPOTLIGHT The International Year of
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The power generation sector plays a
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© OECD/IEA, 2011 Chapter 6 - Clima
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the total). 7 Refurbishment of buil
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which by 2035 are $42/tonne, or 38%
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Implications of delayed action This
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cumulative budgeted emissions of th
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of its technical lifetime before 20
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the case for transport, however, th
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Figure 6.17 Potential CO 2 emissio
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example, it would require an averag
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Figure 6.19 Change in global energ
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PART B OUTLOOK FOR RUSSIAN ENERGY P
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CHAPTER 7 RUSSIAN DOMESTIC ENERGY P
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(Urengoy and Yamburg) that have mad
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Figure 7.2 Energy production in Ru
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Trends in policies and governance T
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and those in Russian strategy docum
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Another target adopted by the Russi
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Figure 7.4 Total energy costs as a
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accounts for a significant share (F
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stricter building codes, are consid
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Figure 7.9 Primary energy savings
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this decline is projected to contin
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The current contribution of non-fos
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energy economy and the government c
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Figure 7.15 Age profile of install
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Reform efforts directed at the elec
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difficult to assess with any accura
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energy demand in the transport sect
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at around 20 kilogrammes of oil equ
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In the New Policies Scenario, polic
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CHAPTER 8 RUSSIAN RESOURCES AND SUP
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Figure 8.2 Russian oil balance in
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Russian industrial groups (and ther
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subsequent updates, 6 IEA analysis
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Our USGS-based estimates have been
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9.6 mb/d throughout the period to 2
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incentives for companies to invest
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© OECD/IEA, 2011 Chapter 8 - Russi
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Production in Eastern Siberia is pr
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Estimating decline rates at existin
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Natural gas Resources Proven reserv
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ecoverable resources suggest, Russi
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SPOTLIGHT © OECD/IEA, 2011 The las
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Figure 8.13 Changes in Russian nat
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Flaring The rate of utilisation of
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© OECD/IEA, 2011 Chapter 8 - Russi
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Box 8.5 The “Northern Route” t
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information about project developme
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the Kansko-Achinsk basin and Easter
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not been affected by any change of
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Russia has significant uranium reso
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obstacle, as discussed for the coal
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The adoption of renewable technolog
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CHAPTER 9 IMPLICATIONS OF RUSSIA’
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Figure 9.1 Structure of Russian ex
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Taken together, our assumption for
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in infrastructure for liquefied nat
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in the Middle East (see Chapter 3).
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There is similar evidence in the oi
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with the overall aim to decrease th
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Table 9.1 Main gas trade flows fro
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At the same time, the position of R
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Policies Scenario, so that they are
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Comparing this Outlook with Russian
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PART C OUTLOOK FOR COAL MARKETS PRE
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CHAPTER 10 COAL DEMAND PROSPECTS Tr
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Box 10.1 A decade of booming coal
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the imposition of a carbon price an
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Table 10.3 Summary of the main dri
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Figure 10.5 World crude steel prod
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under $200/tonne in nominal terms b
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Box 10.3 Coal-fired power generati
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The projections described above, an
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Table 10.4 Levelised electricity g
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Fuel choice in industry Coal has di
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ange of capital costs only for capa
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In the 450 Scenario, OECD coal dema
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© OECD/IEA, 2011 PCC plants, they
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Figure 10.16 Coal-fired generating
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coal demand rebounds in the short t
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energy intensity and carbon intensi
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Figure 10.20 New additions of powe
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© OECD/IEA, 2011 around 85% of the
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Figure 10.24 Coal-fired generating
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In the New Policies Scenario, coal
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over the projection period, as the
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urning for power generation. Load f
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CHAPTER 11 COAL SUPPLY AND INVESTME
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Table 11.1 Coal* production by typ
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in 2009 (Figure 11.2). Marginal cha
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Just under three-quarters, or nearl
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generally risen much less than inte
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and the United States have moved up
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Underground mining methods (longwal
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near the coast. Furthermore, bottle
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capacity in the next two to four ye
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exemptions and credits, grants for
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coal derivatives, which together al
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Table 11.6 Key figures for the 30
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Trade prospects In the New Policies
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Colombia, along with new entrants s
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freight, to connect the coal-fields
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monopoly, which is able to extract
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the west of China, together with in
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the past few years, especially of c
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Indonesian and South African steam
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coal sold at the mine-mouth. The co
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© OECD/IEA, 2011 rates, total coal
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their markets. Additionally, over t
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Figure 11.25 Coal production in So
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© OECD/IEA, 2011 Figure 11.26 Har
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PART D SPECIAL TOPICS PREFACE Part
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CHAPTER 12 THE IMPLICATIONS OF LESS
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On the basis of a necessarily arbit
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of the construction starts in 2010,
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© OECD/IEA, 2011 SPOTLIGHT How did
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© OECD/IEA, 2011 the country’s 5
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Our projections of future nuclear p
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projected in the New Policies Scena
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Figure 12.4 Power generation by fu
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period 2011 to 2035 are higher by 1
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In short, to the extent that energy
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other generating options because of
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CHAPTER 13 ENERGY FOR ALL Financing
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© OECD/IEA, 2011 International con
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Table 13.1 People without access t
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Box 13.2 Measuring investment in m
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In the New Policies Scenario, aroun
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© OECD/IEA, 2011 Chapter 13 - Ener
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significant progress in establishin
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most suitable option for all urban
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In the Energy for All Case, hydropo
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additional investment of $20 billio
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As well as the economic development
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to pay. In these areas, the share o
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Electricity access - financing mini
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y entrepreneurs providing solar por
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The government, through a national
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Multilateral and bilateral developm
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generation at an investment cost of
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including to end-users, to generate
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to be sufficiently expert regarding
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CHAPTER 14 DEVELOPMENTS IN ENERGY S
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G-20 and APEC leaders in 2009 and 2
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availability and foreign currency e
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subsidies, which may subsidise part
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Figure 14.3 Economic cost of fossi
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© OECD/IEA, 2011 Chapter 14 - Deve
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In practice, the poor capture only
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that would follow from subsidy remo
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SPOTLIGHT Are the G-20 and APEC com
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lessens the burden of the rising co
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© OECD/IEA, 2011 While the return
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Measuring renewable-energy subsidie
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grow considerably in non-OECD count
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exploited earlier, but there are ex
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© OECD/IEA, 2011 in the United Sta
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As depicted in the 450 Scenario, mo
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lowest in Japan, due partly to elec
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© OECD/IEA, 2011 ANNEXES
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ANNEX A TABLES FOR SCENARIO PROJECT
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© OECD/IEA, 2011 World: Current Po
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World: Current Policies and 450 Sce
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© OECD/IEA, 2011 OECD: Current Pol
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OECD: Current Policies and 450 Scen
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© OECD/IEA, 2011 OECD Americas: Cu
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OECD Americas: Current Policies and
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© OECD/IEA, 2011 United States: Cu
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United States: Current Policies and
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© OECD/IEA, 2011 OECD Europe: Curr
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OECD Europe: Current Policies and 4
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© OECD/IEA, 2011 European Union: C
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European Union: Current Policies an
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© OECD/IEA, 2011 OECD Asia Oceania
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OECD Asia Oceania: Current Policies
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© OECD/IEA, 2011 Japan: Current Po
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Japan: Current Policies and 450 Sce
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© OECD/IEA, 2011 Non-OECD: Current
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Non-OECD: Current Policies and 450
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© OECD/IEA, 2011 E. Europe/Eurasia
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E. Europe/Eurasia: Current Policies
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© OECD/IEA, 2011 Russia: Current P
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Russia: Current Policies and 450 Sc
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© OECD/IEA, 2011 Non-OECD Asia: Cu
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Non-OECD Asia: Current Policies and
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© OECD/IEA, 2011 China: Current Po
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China: Current Policies and 450 Sce
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© OECD/IEA, 2011 India: Current Po
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India: Current Policies and 450 Sce
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© OECD/IEA, 2011 Middle East: Curr
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Middle East: Current Policies and 4
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© OECD/IEA, 2011 Africa: Current P
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Africa: Current Policies and 450 Sc
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© OECD/IEA, 2011 Latin America: Cu
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Latin America: Current Policies and
Page 615 and 616: © OECD/IEA, 2011 Brazil: Current P
Page 617 and 618: Brazil: Current Policies and 450 Sc
Page 619 and 620: ANNEX B POLICIES AND MEASURES BY SC
Page 621 and 622: The specific policies adopted for d
Page 623 and 624: © OECD/IEA, 2011 Annex B - Policie
Page 631 and 632: ANNEX C UNITS, DEFINITIONS, REGIONA
Page 633 and 634: © OECD/IEA, 2011 Definitions Advan
Page 635 and 636: Coking coal Coking coal is a type o
Page 637 and 638: departure and port of arrival, and
Page 639 and 640: manufacturing and mining), transpor
Page 641 and 642: Latin America Argentina, Bolivia, B
Page 643 and 644: © OECD/IEA, 2011 CNG compressed na
Page 645 and 646: PSA PV RD&D RDD&D SAGD SCO SO 2 SRM
Page 647 and 648: ANNEX D REFERENCES PART A: Global e
Page 649 and 650: © OECD/IEA, 2011 O&GJ (Oil and Gas
Page 651 and 652: © OECD/IEA, 2011 — (2011a), East
Page 653 and 654: RosHydroMet (2011), Report on Clima
Page 655 and 656: © OECD/IEA, 2011 Popel, O., et al.
Page 657 and 658: © OECD/IEA, 2011 Morse, R. and G.
Page 659 and 660: © OECD/IEA, 2011 GPOBA (Global Par
Page 661 and 662: IEA, OECD (Organisaon for Economic
Page 663 and 664: © OECD/IEA, 2011
Page 665: © OECD/IEA, 2011
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