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World Energy Outlook 2014

image of World Energy Outlook 2014

The global energy landscape is evolving at a rapid pace, reshaping long-held expectations for our energy future. The 2014 edition of the World Energy Outlook (WEO) will incorporate all the latest data and developments to produce a comprehensive and authoritative analysis of medium- and longer-term energy trends. It will complement a full set of energy projections – which extend from today through, for the first time, the year 2040 – with strategic insights into their meaning for energy security, the economy and the environment. Oil, natural gas, coal, renewables and energy efficiency will be covered, along with updates on trends in energy-related CO2 emissions, fossil-fuel and renewable energy subsidies, and universal access to modern energy services.

The WEO-2014 will also provide in-depth analysis of some topical energy sector issues:

Africa: This continent-wide focus, paying particular attention to the energy outlook for sub-Saharan Africa, will include data and projections for the entire region as well as for its key energy-producing and consuming countries. Key elements for analysis will be the prospects for improving access to modern energy services and for developing the region’s huge resource potential in a way that contributes not only to regional and global energy balances but also to local economic and social well-being.

Nuclear power: Uncertainties continue to cloud the future for nuclear – government policy, public confidence, financing in liberalised markets, competitiveness versus other sources of generation and the looming retirement of a large fleet of older plants. The study will assess the outlook for nuclear power and its implications.

Energy sector investment (WEO Special Report to be released 3 June): The analysis will provide a detailed assessment of current flows and future investment needs along the entire energy value chain, examining the scale of investment required and financing options. The report will also show how barriers to investment vary according to the strength of decarbonisation policies.

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Executive Summary

International Energy Agency

The global energy system is in danger of falling short of the hopes and expectations placed upon it. Turmoil in parts of the Middle East – which remains the only large source of low-cost oil – has rarely been greater since the oil shocks in the 1970s. Conflict between Russia and Ukraine has reignited concerns about gas security. Nuclear power, which for some countries plays a strategic role in energy security (and which is examined in depth in this edition of the World Energy Outlook [WEO-2014]), faces an uncertain future. Electricity remains inaccessible to many people, including two out of every three people in sub- Saharan Africa (the regional focus in WEO-2014). The point of departure for the climate negotiations, due to reach a climax in 2015, is not encouraging: a continued rise in global greenhouse-gas emissions and stifling air pollution in many of the world’s fast-growing cities.

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