2022 was a year of disruption with the post-COVID recovery, geopolitical challenges and increased climate concerns impacting the global energy system. With continued volatility impacting the industry, it’s imperative that energy and natural resource organizations have a go-to source of energy data.
KPMG is proud to be working in association with the Energy Institute on the latest Statistical Review of World Energy. The Statistical Review compiles and analyses data on world energy production, consumption, and emissions from the prior year. It has been providing timely, broad-ranging, and objective data to the energy community since 1952. It is free for users to access.
On 26 June, Simon Virley CB FEI, Sector Head of Energy and Natural Resources and Vice-Chair, KPMG in the UK, joined a panel of professionals as part of the live launch event for the report. The panelists had a thought-provoking discussion on the latest trends in energy production, consumption, and emissions from the prior year. You can now watch the session on demand here.
Five interesting insights from the Statistical Review:
- Post-COVID, transport fuel demand patterns continued to return, but with major variations across geographies and fuel types.
- The Ukraine conflict precipitated record international gas prices and unprecedented shifts in global oil and gas trade flows.
- Record deployment of wind and solar in the power sector accounted for around 84% of net electricity growth.
- Global primary energy consumption grew by 1%, with the dominance of fossil fuels barely dented at 82%.
- Global energy-related emissions continued to grow, up 0.8%, with use of higher carbon fuels negating strong growth in renewables.