Is there a future for fossil fuels?

Xavier Chen
President, Beijing Energy Club
NTNU Webinar, 16 June 2020
 Fossil fuels are still dominant, non-FF grows slowly
World Energy Structure 2018 Growth of Non-fossil Fuels 1980-2018

Non-fossil
fuels 15.3%

• +6.9% over 38 years, averaging 0.18% a year

• Acceleration last 8 years, at 0.28% a year

Source: BP Statistical Review of World Energy, 2019

 Replacing oil not an easy task, EVs are still too small
Global and Chinese Car/EV Fleet
Oil Consumption Structure 2018

World car fleet in 2018:

•Car fleet: 1380 million
•EVs: 5.1 million or 0.37%

China car fleet in 2018:

•Car fleet: 250 million
•EVs: 3.44 million, or 1.4%

China car sales in 2019

•Total car sales: 25.8 million
•EVs: 1.2 million, or 4.6%

Source: IEA
Environmental security at heart of energy transition

Depollution Diversification

Economic Efficiency
Energy Security

Democratisation
Environmental Decarbonisation

Security

Decentralisation Digitalisation
universal access to secure,
sustainable, affordable, and
reliable supply of energy. Deregulation