Two years ago the world noted growth in energy demand by 2.3 percent. It was primarily met by natural gas followed by renewables, oil, coal, nuclear, and others. The exploding demand for natural gas together with the proliferation of LNG and the fracking revolution was the reason for IEA’s chief Fatih Birol to conclude the coming of a ‘golden age’ for gas. Just two years later, the IEA in its latest report has reversed its prediction. How much room for interpretation is there and in which context should it be seen? The IEA’s ‘net zero by 2050 roadmap ’ The projection has been done based on the already infamous ‘Net-zero by 2050 roadmap’ that was published recently. In it, the IEA concluded that if the countries that have stated their decarbonization efforts towards 2050 execute them accordingly, no new oil or natural gas investments are needed. This does not […]