The Center on Global Energy Policy hosted Eirik Wærness, Senior Vice President and Chief Economist at Equinor, for a presentation of Equinor’s Energy Perspectives 2019 report, intended to provide a helicopter perspective on macroeconomics and global energy markets towards 2050. The report analyses relevant trends, impact of climate policies, energy mix consequences and sectorial and regional development across three very different scenarios - Reform, Renewal and Rivalry. Following his presentation, Mr. Wærness was joined by Dr. Melissa C. Lott, CGEP Senior Research Scholar, for a moderated conversation.
Recent signposts show diverging paths in energy market developments in terms of economic and demand growth, energy efficiency, cooperation, technology development and geopolitics. Two of the scenarios (Reform and Rivalry) illustrate where the world may move if current path continues. The third, Renewal, illustrates where the world needs to move to achieve the Paris Agreement target of limiting global warming to well below 2°C.