Global demand for liquefied natural gas (LNG) is expected to increase by 50% by 2040, while daily oil demand will remain above 100 million barrels, APA-Economics reports, citing TASS.
UAE Minister of Industry and Advanced Technology and CEO of ADNOC, Sultan bin Ahmed Al Jaber, stated that demand for energy from renewable sources will more than double, LNG demand will grow by 50%, and aviation fuel demand will increase by over 30%.
“Daily oil demand will still exceed 100 million barrels,” he said.
According to the minister, this growth in energy demand will be driven by urbanization and a fourfold increase in the capacity of data processing centers by 2040. Additionally, the global aircraft fleet is expected to double—from 25,000 to 50,000 planes.
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