BAKU, Azerbaijan, July 11. After decades of slow progress, nuclear energy is set to experience a significant resurgence, according to OPEC’s long-term outlook on global primary energy demand, Trend reports.
From 2024 to 2050, nuclear energy demand is projected to rise from 14.9 mboe/d to 24.9 mboe/d - an increase of 10 mboe/d or 67%. This 2.4% average annual growth marks a sharp turnaround from earlier years of stagnation in the nuclear sector.
Nuclear’s share in the global primary energy mix will climb modestly from 4.8% in 2024 to 6.6% in 2050. While still a relatively small portion of the overall energy mix, nuclear is gaining traction as a dependable source of low-carbon baseload power, especially amid growing concerns about climate change and energy security.
The report emphasizes that most of this growth will occur in developing economies, where electricity demand is rising rapidly and nuclear energy is seen as a strategic option for enhancing energy independence and cutting emissions.
Meanwhile, global primary energy demand is expected to grow from 308 mboe/d in 2024 to almost 378 mboe/d in 2050, which is an increase of 23% over the outlook period, or 0.8% p.a. on average.
