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Bryan Lovell Meeting 2019

Explore key insights from the 2019 Bryan Lovell Meeting with Spencer Dale, BP's Group Chief Economist, on the dual challenge faced by the energy system today: increasing energy demand while reducing carbon emissions. Discover pathways to a lower-carbon energy system, fuel shares in power generation, and strategies for reducing carbon emissions beyond 2040.

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Bryan Lovell Meeting 2019

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  1. Trends in world energy and decarbonisation Bryan Lovell Meeting 2019 Spencer Dale Group Chief Economist, BP

  2. Energy system faces a dual challenge More energy; less carbon 2

  3. Energy system faces a dual challenge More energy; less carbon Human development index and energy consumption per head, 2018 Gigajoules/head 3

  4. Energy system faces a dual challenge More energy; less carbon Human development index and energy consumption per head, 2018 Carbonemissions Billion tonnes CO2 Gigajoules/head 4

  5. Recent growth in carbon emissions GDP and carbon emissions Annualchange, % 5

  6. Recent growth in carbon emissions GDP and carbon emissions Factors slowing recent growth in CO₂ Annualchange, % Annualchange, % 6

  7. Pathway to a lower-carbon Energy system Carbon emissions Carbon emissions in 2040 Billion tonnes CO2 Billion tonnes CO2 Energy intensity 7

  8. Fuel shares in power generation 8

  9. Fuel mix in a lower carbon energy system Carbon emissions Primary energy consumption by fuel Billion tonnes CO2 Billion toe 2040 9

  10. Reducing carbon emissions beyond 2040 • Efficiency, efficiency, efficiency • - circular economy/reuse/recycle: reducing demand for new materials and products: • - energy efficiency • Decarbonise power sector • – renewables (supported by energy storage, DSR, grid interconnection) • – Gas (and coal) with CCUS • Hydrogen: potential role for both green and blue hydrogen • Bioenergy: including liquid biofuels • Carbon storage and removal • – CCUS: industry and power • – Negative emission technologies (inc BECCS, air capture, land carbon) 10

  11. Trends in world energy and decarbonisation Bryan Lovell Meeting 2019 Spencer Dale Group Chief Economist, BP

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