TotalEnergies Energy Outlook 2022
Will current market disruptions speed up or slow down
the energy transition?
TotalEnergies
2021 demand rebound
due to stronger than
expected economic
growth
+6% energy demand in 2021,
vs. +4% anticipated in TEO21
Energy security and
sovereignty back in
focus: oil and gas matter
'Save gas for a safe winter' -
Ursula Von der Leyen
Energy affordability is
fundamental: high
energy bills becoming a
major issue
European electricity prices
topped @1000€/boe
Short term coal
consumption and CO2 on
the rise
Coal demand +7% in 2021,
energy-related CO2 +2 Gt
Higher prices may favor
efficiency gains
(via substitution or
demand reduction)
2011-2014 high energy prices
example: efficiency gains x2
Renewed ambitions for
electrification and REN
deployments
REPowerEU, IRA in the US
Clean H₂ potential
gaining traction
20 Mt Green H2 in EU in 2030
target, strong fiscal incentives
in IRA in the US
COP27 focus on just
transition for emerging
countries
Developed countries to deliver
the promised 100 G$/y
Need to preserve energy security & affordability through the transition
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