OPEC Chief, Abdalla Salem El-Badri, says despite the growth of renewables and unconventional energy, fossil fuels will continue to be the most important source of energy for years to come.Â
“”Fossil fuels that remain dominant in meeting energy demand for the foreseeable future. They currently account for 87 per cent of global energy demand, and will still make up 82 per cent by 2035,” he said.
Abdalla Salem El-Badri, Secretary General, OPEC was speaking at the the Second Summit of the Heads of State and Government of the Gas Exporting Countries Forum (GECF)in Moscow.
He said of all fossil fuels, natural gas is expected to witness the fastest growth rate, at close to 2.5 per cent annually. And its overall share in the fuel mix rises from 23 per cent today to 26 per cent by 2035.
“For oil, although its overall fuel share falls from 35 per cent to just over 27 per cent between 2010 and 2035, demand still increases by more than 20 million barrels a day over this period.
Combined, natural gas and oil will still meet well over 50 per cent of the world’s energy needs by 2035,” he added.
He reiterated OPEC’s relationship with Russia and  said “we value the dialogue we continue to have with Russia.”
“That is not to say, however, that the future will be straightforward. As well as opportunities, there will also be challenges and some of these are shared by both oil and gas.Â
“For example, challenges related to the environment, human resources and technology and investments. There is much our industries can learn from each other, ” he concluded.Â
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