Published on 21 Mar 2025
• The International Energy Agency’s (IEA) annual World Energy Outlook was recently released.
• The report includes several sensitivity cases on key factors affecting oil, gas and electricity demand in the current policies, which is also known as Stated Policies Scenario (STEPS) in IEA parlance.
• There are three overarching and inter-related themes for this year’s Outlook.
• Energy security, the prospects for clean energy transitions & Uncertainty.
Key Findings:
The potential for near-term disruption to oil and gas supply is high due to conflict in the Middle East.
Around 20% of today’s global oil and liquefied natural gas (LNG) supplies flow through the Strait of Hormuz, a maritime choke point in the region.
The growth in global energy demand slowed due to efficiency gains, electrification and a rapid buildout of renewables.
More than 560 GW of renewables capacity added in 2023.
Even under current policies, renewables will reach 10 000 GW by 2030.
Global investment in clean energy has increased by 60% since 2015, when the world signed the Paris Agreement.
The report suggests that there are still 750 million people without access to electricity (mainly in Sub-Saharan Africa) and two billion without clean cooking.
• IEA was established in 1974 as part of the Organisation for Economic Co- operation and Development (OECD).
• Its primary goal is to promote energy security, economic growth, and environmental sustainability globally.
• India including Russia and China are not members.
World Energy Outlook
renewable energy
energy
energy crisis
Power sector