Fossil Fuel Peak Expected by 2030, Says IEA

By: Dwight Links

 

In their recent Global Energy Outlook report for 2023, the International Energy Agency (IEA) has predicted that the peak for all fossil fuels will be reached by 2030.

The release of this report coincides with statements made by Namibian petroleum commissioner Maggy Shino, who last month announced the country’s anticipation of producing its first major offshore oil by 2030.

Namibia is also exploring the possibility of using a Floating Production Storage and Offloading (FPSO) platform for oil export.

IEA executive director, Fatih Birol, suggested that the ongoing global energy crisis may mark the beginning of the end for the fossil fuel era.

However, Birol believes that the momentum behind clean energy transitions is now strong enough to drive global demand for coal, oil, and natural gas to their respective peaks before 2030.