The global energy landscape is undergoing deep transformation. Recent political developments, such as the landmark Paris agreement and other geopolitical changes, have already started to affect the energy field and are shaping future trends. At the same time, innovation continues to drive down the cost of low carbon technologies and a shift in the energy mix is set to expand beyond electricity generation within a challenging investment environment. Policymakers are adapting to this changing landscape. The EU has been proposing a number of major policy innovations affecting energy security and sustainability in the light of the 2030 and 2050 objectives. China is positioning itself as a leader in the global effort to reduce greenhouse gas emissions, while in the US, the election of Donald Trump, on the contrary, is creating uncertainty about the country’s commitments to global climate goals. Developing economies are increasingly confronted by the challenge of cleaning their energy mix without affecting growth and access to affordable energy in the face of rising demand.

At this Policy Dialogue, Eirik Wærness, Chief Economist at Statoil presented Statoil’s latest Energy Perspectives report, which outlines different scenarios about global energy demand and energy mix for the future decades, based on different assumptions about regional and global economic growth, conflict levels and implications, technological developments, as well as energy and climate policies. Speakers then discussed the report and took part in a question and answer session.

Speakers included: Fabian Zuleeg, European Policy Centre Chief Executive, Eirik Wærness, Chief Economist at Statoil, Mechthild Wörsdörfer, Director for Energy Policy at the European Commission’s DG Energy, Laura Cozzi, Deputy Head of the Chief Economist Office at the International Energy Agency, Tom Brookes, Director of the European Climate Foundation