{"id":115249,"date":"2020-06-13T21:54:37","date_gmt":"2020-06-13T18:54:37","guid":{"rendered":"https:\/\/www.enerjigazetesi.ist\/?p=115249"},"modified":"2020-06-13T22:04:43","modified_gmt":"2020-06-13T19:04:43","slug":"kuresel-enerji-harcamalari-koronavirusden-dolayi-400-milyar-dolar-dusecek","status":"publish","type":"post","link":"https:\/\/www.enerjigazetesi.ist\/en\/kuresel-enerji-harcamalari-koronavirusden-dolayi-400-milyar-dolar-dusecek\/","title":{"rendered":"Global Energy Spending to Fall $400bn Due to Coronavirus Crisis"},"content":{"rendered":"

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The coronavirus pandemic will slash energy sector investment by about $400bn this year \u2014 the biggest ever annual fall \u2014 with the International Energy Agency warning that the world could grow more dependent on cheaper, dirtier fuels that undermine global climate goals.\u00a0 Spending is due to plunge in every major sector, from oil, gas and coal to renewables, the Paris-based body said in a report published on Wednesday that takes into account project data and announcements from governments and companies.<\/h1>\n

At the start of 2020<\/strong>, global energy investment was set to grow 2 per cent<\/strong>, marking the largest annual rise in six years. But with governments around the world forced to lock down<\/strong> their economies and \"\"halt travel to slow the pandemic<\/strong>, spending will fall 20 per cent<\/strong> compared with 2019 levels<\/strong>. Global energy investment<\/strong> in 2020 will be just over $1.5tn<\/strong> compared with just under $1.9tn<\/strong> in 2019<\/strong>, the IEA said. \u201cThis Covid crisis<\/strong> will lead to the biggest fall of global energy investment<\/strong> in history. We have never seen such a big decline,\u201d Fatih Birol<\/strong>, head of the IEA<\/strong>, told the Financial Times<\/strong>. \u201cThe entire system has been hit\u201d.<\/p>\n

The finances of hydrocarbon<\/strong>-rich governments have taken a massive hit as demand has collapsed. The balance sheets of oil and gas companies<\/strong> have also weakened dramatically, prompting them to cut back on investments.\u00a0 Although spending in the renewables sector<\/strong> is set to be more resilient than for fossil fuels in the current downturn, it is not completely immune to the fallout from the pandemic. As crude prices have fallen to 18-year lows<\/strong> in recent weeks, national oil companies and internationally listed energy majors slashed capital spending. Oil and gas investment<\/strong> is expected to drop almost a third in 2020<\/strong>, with the US shale sector taking the biggest hit. Coal will fall 15 per cent<\/strong> while power sector spending \u2014 which includes renewable generation, investment in grids and storage<\/strong> \u2014 will slide 10 per cent<\/strong>. Money funnelled into energy efficiency<\/strong> will fall 12 per cent<\/strong>.<\/p>\n

Mr Birol<\/strong> said while cleaner energy projects were performing relatively better, spending had been flat since 2015<\/strong> and was far below the levels necessary to bring about a meaningful reduction in emissions in line<\/strong> with the Paris climate goals<\/strong>.\u00a0 \u201cMy key concern is that the lockdowns may lead to a lock-in of inefficient [and dirtier] technologies in financially constrained emerging markets<\/strong>, which will have serious implications for global energy and climate trends<\/strong>,\u201d he said.\u00a0 Renewable power capacity<\/strong> additions will be lower than 2019<\/strong> as project completions<\/strong> are delayed into next year and approvals for new investments<\/strong> of utility-scale wind<\/strong> and solar projects<\/strong> slows to three-year lows.<\/p>","protected":false},"excerpt":{"rendered":"

The coronavirus pandemic will slash energy sector investment by about $400bn this year \u2014 the biggest ever annual fall \u2014 with the International Energy Agency warning that the world could grow more dependent on cheaper, dirtier fuels that undermine global climate goals.\u00a0 Spending is due to plunge in every major sector, from oil, gas and […]<\/p>\n","protected":false},"author":1,"featured_media":115251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[51,53,49],"tags":[73660,73654,73656,73652,73646,43643,42491,73653,52379,52259,22622,818,73655,42502,49149,73648,73647,73658,1023,15877,69696,38599,49147,42714,73651,9845,73659,73657,73650,54979,73649,1022],"views":223,"_links":{"self":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts\/115249"}],"collection":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/comments?post=115249"}],"version-history":[{"count":3,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts\/115249\/revisions"}],"predecessor-version":[{"id":115255,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts\/115249\/revisions\/115255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/media\/115251"}],"wp:attachment":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/media?parent=115249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/categories?post=115249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/tags?post=115249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}