New Energies - Compelling Opportunity Set
The Role of Conventional Energy
Essential
(IEA Announced Pledges Scenario)
Petrochemical1
(MMbpd)
~+20%
Transport1
(Exajoules)
Reliable²
(Realized Capacity Factors)
~+10%
Gas
Other
48%
Liquids
35%
39%
Oil
Hard
to
Abate
25%
Today
2050
↓
Today
2050
.
• No viable or affordable alternatives
Embedded in millions of everyday products.
Limited heavy transport fuel alternatives
Solar
Wind
Hydro
Coal
57%
94%
Affordable³
(Cost/MMBtu)
$4
ENBRIDGE®
$19
$16
Gas
Nuclear
Natural gas enables
reliable and lower carbon
baseload
Gas
Blue
Green
Hydrogen Hydrogen
Hydrogen will take
time to scale up and
be cost competitive
Conventional energy will be key to meeting future energy demand
International Energy Agency (2021), World Energy Outlook 2021, IEA, Paris and company estimates (2) U.S. Energy Information Administration, Monthly Energy Review, March 2020
(3) Blue Hydrogen defined as gas-based hydrogen production with carbon capture and Green Hydrogen defined as renewable-based hydrogen production
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