World Energy Council welcomes IEA report

The World Energy Council (WEC) welcomed the International Energy Agency’s (IEA) 2011 World Energy Outlook, which was published in November.

The report brings together the latest data, policy developments and experiences from the year to provide analysis and insight into global energy markets today and for the next 25 years.

According to WEC secretary general Dr Christoph Frei, the report findings demonstrate the importance of coherent analysis and the need to highlight trends and gaps in the global energy sector.

Dr Frei said the report shared his concerns about the lack of progress towards a global climate framework that provides clear long-term signals for energy infrastructure investments.

“This view mirrors the findings of our annual issues survey in highlighting this area as the biggest critical uncertainty for the energy sector world-wide,” he said.

“We are concerned about the slow take-up of the Carbon Capture and Sequestration (CCS) challenge. Coal use is still steadily increasing and failure to deliver in this area has the potential to blow a big hole in the climate mitigation roadmap.”

The report also analyses some of the most pressing issues faced by the energy world this year by looking at the implications of a possible delay in oil and gas sector investment in the Middle East and North Africa and also by presenting a ‘Low Nuclear Case’ to investigate what a rapid slowdown in the use of nuclear power would mean for the global energy landscape.

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