The world is growing at an expedited pace. By 2040, the population of our planet is predicted to hit 9.3 billion people. In addition, the global middle class is expected to double. Demand for energy around the world is increasing every year.

Energy stability is more paramount than ever as people rely on more and more energy to sustain their lifestyles. Paired with a rising use of airline travel and shipped goods, global energy demand is expected to increase by 30 per cent in the next 22 years.

Enter the renewable energy market. While renewables will play an integral part in meeting future energy demand, renewables alone can’t meet future global energy needs. Oil and natural gas demand will increase. As a major energy exporter, Newfoundland and Labrador (NL) has an opportunity. That opportunity is to help meet global demand for energy around the world today and in the future. To do so, the province must do everything it can to make sure our oil and gas projects are competitive and attracting the attention of the world’s oil and gas players.


“As people rely more and more on energy to sustain their lifestyles, global energy demands is expected to increase by 30 per cent in the next 22 years. Renewables alone can’t meet future energy needs. Oil and natural gas demand will increase.”


Global Energy Mix From 2016 – 2040

The need for energy is on the rise due to a growing population around the world. Major industries and urban infrastructure are major energy consumers and that’s why global demand for energy is expected to increase by 30% over the next 22 years.


Each Compared to 5,000 Million tonnes of oil equivalent

Each Compared to 5,000 Million tonnes of oil equivalent





Source: International Energy Agency 2017 World Energy Outlook, New Policies Scenario