May-2025

Energy institute statistical review of world energy 2024

The Energy Institute Statistical Review of World Energy 2024 shows that carbon emissions reached a new record in 2023.

Dr Robin Nelson
Consulting Editor

Article Summary

Although renewables are growing, so is the global energy demand. Consumption of coal continues to increase in the Asia Pacific region, accounting for 80% of global output, whereas coal consumption in both Europe and North America fell. Coal accounted for 35% of electricity production, with gas at 23% and renewables rising to 30%.

These figures reflect slow progress with the energy transition, but in part this is due to the scale needed. As often stated in my forewords for Decarbonisation Technology magazine and elsewhere, investments in developing the technologies required for the transition indicate that we have the necessary technologies; now, we need to deploy them at scale. As such, I found the theme of the Baker Hughes annual meeting held earlier this year, ‘Progress at Scale’, to be spot on. We now need to see exponential growth in the deployment of available technologies and solutions.

Flaring is one of the biggest sources of emissions from oil and gas operations. Carbon dioxide emissions from flaring increased by 7% in 2023, while methane emissions from pipelines and industrial processes also increased (the reported increase may, in part, be because monitoring and reporting of such emissions has also improved). Most gas production companies have pledged zero methane emissions by 2030. The technologies and know-how to reduce flaring and manage pipeline leaks are critical in meeting this challenge.

Carbon capture, utilisation and storage is critical for the oil and gas industry and other energy-intensive industries. The evolution of industrial clusters can de-risk investment in developing carbon dioxide transport and storage solutions. In the EU, the ReFuelEU regulation will drive the utilisation of captured carbon dioxide for the production of e-fuels, which will go some way to restoring a healthy carbon cycle. As one of the articles in this edition illustrates, integrating the production of e-fuels with existing refinery processes can be financially attractive.

Building capacity for low carbon intensity hydrogen necessitates the deployment of a range of technologies, including electrolysis, reforming with carbon capture, and methane pyrolysis. We have to maximise our chances of achieving the scale needed and should not be technology prescriptive.

Progress with the energy transition depends heavily on the US, both as one of the largest sources of emissions and on leadership from US universities and companies in developing technology solutions and delivering engineering expertise. We must make ‘progress at scale’.