Europe’s imports of liquefied natural gas (LNG) have been steadily increasing since October 2018, and reached a new monthly record of 12.7 billion cubic feet per day (Bcf/d) in November 2019

by 2050 the total investment of AEI is 18.7 trillion U.S. dollars, including 14.3 trillion U.S. dollars in power source, and 4.4 trillion U.S. dollars in power grids, creating about 150 million jobs.

Delivering the opening keynote address, at the event, Dr. Al Jaber said the oil and gas industry is being disrupted by new technologies, new business models, new forms of energy and a new geopolitical order, with the rise of Asia.

In 2018 a total of 533 TWh of electricity generated in Asia was from nuclear power. This was 12% higher than the previous year, and 60% higher than in 2012. Nuclear generation in Asia now represents 21% of total electricity generation.

Global wind power could rise ten-fold reaching over 6000 GW by 2050. By midcentury, wind could cover one third of global power needs and – combined with electrification – deliver a quarter of the energy-related carbon emission reductions needed to meet the Paris climate targets. To reach this objective, onshore and offshore wind capacity will need to increase four-fold and ten-fold respectively every year compared to today.

Energy ministers from across Central Asia committed their countries to collaborating on meeting the United Nations' seventh Sustainable Development Goal (SDG), which pledges 'affordable and clean energy' by 2030. The meeting is the first time they have come together to discuss the region's common energy challenges.

"Western sanctions have helped deepen Russia-China energy links as Chinese entities have emerged as a source of capital, which in turn has facilitated Chinese financing of the Yamal LNG project as well as the conclusion of the Power of Siberia pipeline," Dr Michal Meidan, director of the China Energy Program at the Oxford Institute for Energy Studies, said.

"We can play a role because natural gas is relatively cleaner compared to coal," he said. "So we can help countries like China and India reduce their consumption of coal."

Total capital expenditure in renewables will rise above $30 billion in the region by 2020, just overtaking investment into exploration and production for oil and natural gas,

AP - The expansion of the regional electricity grid cannot be undertaken without foreign investment, thus presenting a lucrative win-win opportunity for foreign investors. Numbers by the International Energy Agency (IEA) indicate that the region would require US$1.2 trillion in investments between now and 2040 in order to modernise and expand its electricity grids.