The Secretary General of OPEC, Mohammed Sanusi Barkindo, has said that despite the speed of the annual growth rate for renewables in recent times, oil and gas will hold more than half of the energy demand in a few more decades to come, Daily Trust reports.

Speaking yesterday at the 5th Kuwait Oil & Gas Show with the theme ‘New Energy Era: Transformation, Diversification and Integration’, Barkindo said the combined contribution of renewables, hydro, nuclear and biomass is expected to account for just 26% of the global energy mix, an increase of 7% today.

According to him, oil and gas combined are still expected to provide more than half of the world’s energy need by 2040, with their combined share relatively stable between 52-53% over the almost 25-year forecast period. Barkindo said: “Thus, in looking ahead, we need to be realistic about what each energy source can provide, and continually look to transform how we extract, process, supply and use all the energies needed in the future.”

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