DNV forecasts oil demand in transportation to halve by 2050

Remi Eriksen, Group President and CEO of DNV GL

The fuel mix in the maritime sector will change significantly over the coming decades, according to DNV’s latest ‘Transportation in Transition’ report. The report forecasts that it will likely transition from being almost entirely oil-based to an energy mix comprising of 50% low- and zero-carbon fuels, 19% natural gas and 18% biomass by 2050. 

DNV’s Transport in Transition report is a deep dive into the energy transition of transport – the most dynamic of the energy demand sectors through to 2050. The report draws on DNV’s system dynamics-based Energy Transition Outlook model and explores the vast changes in fuels, electricity and infrastructure needed to transport ever-larger numbers of people and volumes of freight while at the same time decarbonizing the sector.

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