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Multidimensional Transition

Look Forward

13 March 2024
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We are at a pivotal moment in the energy transition.

Sweeping financial investments have set the stage for a decade of deployment. Thousands of new projects and new technologies will enter the world’s energy ecosystem, from hydrogen to carbon capture and more. In addition, artificial intelligence is transforming capabilities in data processing and decision-making that will impact the energy industry.

While evidence of the transition is clear, uncertainties remain. In this edition of Look Forward: Multidimensional Transition, our economists, analysts, researchers and data experts examine the challenges and opportunities of decarbonization, focusing on topics with the greatest potential for large-scale disruption and deployment.

This issue explores a spectrum of topics: energy security, geopolitics of energy and climate change, critical minerals for energy transition, natural gas, carbon markets, methane emissions, transportation, and material transition.

It is intended to help decision-makers in asset management, asset ownership, companies, multilateral institutions, nonprofits and governments look beyond the near term and explore the trends that will shape our future.

I encourage you to seek out previous volumes of Look Forward as well, which cover a range of topics to help navigate an uncertain world. Get in touch with us to share your own views on these topics and ask questions. We want to hear from you.


Saugata Saha
President,
S&P Global Commodity Insights



We are at a pivotal moment in the energy transition.

Sweeping financial investments have set the stage for a decade of deployment. Thousands of new projects and new technologies will enter the world’s energy ecosystem, from hydrogen to carbon capture and more. In addition, artificial intelligence is transforming capabilities in data processing and decision-making that will impact the energy industry.

While evidence of the transition is clear, uncertainties remain. In this edition of Look Forward: Multidimensional Transition, our economists, analysts, researchers and data experts examine the challenges and opportunities of decarbonization, focusing on topics with the greatest potential for large-scale disruption and deployment.

This issue explores a spectrum of topics: energy security, geopolitics of energy and climate change, critical minerals for energy transition, natural gas, carbon markets, methane emissions, transportation, and material transition.

It is intended to help decision-makers in asset management, asset ownership, companies, multilateral institutions, nonprofits and governments look beyond the near term and explore the trends that will shape our future.

I encourage you to seek out previous volumes of Look Forward as well, which cover a range of topics to help navigate an uncertain world. Get in touch with us to share your own views on these topics and ask questions. We want to hear from you.


Saugata Saha
President,
S&P Global Commodity Insights










  • Multidimensional Transition

    The global energy system has been in continuous transition for centuries, but it is the current transition that has everyone talking.





    Read the Introduction

  • The return of energy security

    Ensuring energy security is a high priority for the energy transition.





    Read the Report

  • One planet, two realities: Realizing energy transition in the Global South

    Climate change is a global issue that requires global cooperation. This starts with accepting the challenges and realities of the Global South.



    Read the Report

  • A shattered global order: Hard truths for energy and climate

    Wars, polarization and political divides will challenge governments and the private sector to secure energy supplies while also navigating investments for energy transition.


    Read the Report

  • Decarbonizing road transportation: When will we get there?

    Electrification trends and challenges across the automotive and truck sectors are affecting oil demand.




    Read the Report

  • The role of gas in the energy transition

    Gas can contribute to the energy transition by delivering fast and deep decarbonization.





    Read the Report

  • Permian methane: The good, the bad and the ugly

    New technologies and industry focus will enable significant reductions in methane emissions in the world’s most important oil and gas basin.





    Read the Report

  • Is the COP28 pledge to triple renewables capacity by 2030 a surmountable challenge?

    At least 1,000 GW of new renewables capacity are needed globally each year to reach the goal, or more than double today’s levels.




    Read the Report

  • Hydrogen: New Ambitions and Challenges

    Is low-carbon hydrogen ready for lift-off?






    Read the Report

  • Making carbon capture, utilization and storage attractive in reaching net-zero

    Carbon capture, utilization and storage is critical for decarbonizing hard-to-abate sectors responsible for almost 30% of GHG emissions. S&P Global identifies five key factors that determine the attractiveness of CCUS.




    Read the Report

  • A tale of two carbon markets

    In 2024, we expect carbon compliance expansion alongside reflection on the voluntary carbon market.





    Read the Report

  • Energizing innovation: Exploring AI’s impact on the energy industry

    Energy companies are embracing advances in AI as they navigate the opportunities and challenges of the energy transition.





    Read the Report

  • The materials transition: Ensuring we build with low-carbon materials

    Everything is made from something. How do we minimize the emissions associated with the materials we use every day?





    Read the Report

 




In this episode of the The Essential Podcast, host Nathan Hunt is joined by Atul Arya, Chief Energy Strategist at S&P Global to discuss what Atul had seen recently at The World Economic Forum Meeting in 2024, as well as what Atul is looking forward to as we approach CERAWeek 2024.

Learn more


 



Sponsors & Contributors


Martina Cheung
President,
S&P Global Ratings
Executive Sponsor, S&P Global Research Council
Alexandra Dimitrijevic
Global Head of Research & Development,
S&P Global Ratings
Co-chair, S&P Global Research Council
Atul Arya, Ph.D.
Chief Energy Strategist,
S&P Global Commodity Insights
Co-lead, Look Forward:
Multidimensional Transition

Co-chair, S&P Global Research Council
Ashutosh Singh
Head of Energy Transition Program Management,
S&P Global Commodity Insights
Co-lead, Look Forward:
Multidimensional Transition
Juliana Abella
Research and Analysis Director,
S&P Global Commodity Insights
Kurt Barrow
Head of Oil Markets,
Midstream and Downstream Research,
S&P Global Commodity Insights
Julien Bernu, CFA
Associate Director,
EMEA Utilities,
S&P Global Ratings
Simon Blakey, Ph.D.
Senior Advisor,
S&P Global Commodity Insights
Marie-Louise du Bois
Head of Carbon Pricing,
S&P Global Commodity Insights
Etienne Gabel
Senior Director,
S&P Global Commodity Insights
Peter Gardett
Executive Director,
Financial and Capital Markets,
S&P Global Commodity Insights
Judson Jacobs
Executive Director,
Energy Technology and Innovation,
S&P Global Commodity Insights
Roman Kramarchuk
Head of Climate Markets & Policy Analytics,
S&P Global Commodity Insights
Eleonor Kramarz
Vice President,
Consulting,
S&P Global Commodity Insights
Raoul LeBlanc
Vice President,
Upstream,
S&P Global Commodity Insights
Olivier Maronneaud
Director,
Methanol and Plastics Circularity,
S&P Global Commodity Insights
Claire Mauduit-LeClercq
Director,
EMEA Utilities,
S&P Global Ratings
Anastasia Pantazopoulou
Analyst,
Hydrogen and Low-Carbon Gas,
S&P Global Commodity Insights
Carlos Pascual
SVP,
Geopolitics & International Affairs,
S&P Global Commodity Insights
Chengyao Peng, Ph.D.
Director,
S&P Global Commodity Insights
Paola Perez
Principal Research Analyst,
S&P Global Commodity Insights
Tony Potter
Vice President,
Chemicals, Derivatives,
Plastics and Materials Lead,
S&P Global Commodity Insights
Catherine Robinson
Executive Director,
Hydrogen and Low-Carbon Gas,
S&P Global Commodity Insights
Shankari Srinivasan
Vice President,
Global Gas, LNG and Low-Carbon Gas,
S&P Global Commodity Insights
Michael Stoppard
Global Gas Strategy Lead,
S&P Global Commodity Insights
Eduard de Vedruna Sala
Vice President,
Clean Energy Technology Lead,
S&P Global Commodity Insights
Daniel Yergin, Ph.D.
Vice Chairman,
S&P Global
Edurne Zoco, Ph.D.
Research and Analysis Executive Director,
S&P Global Commodity Insights

Sponsors & Contributors


Martina Cheung
President,
S&P Global Ratings
Executive Sponsor, S&P Global Research Council
Alexandra Dimitrijevic
Global Head of Research & Development,
S&P Global Ratings
Co-chair, S&P Global Research Council
Atul Arya, Ph.D.
Chief Energy Strategist,
S&P Global Commodity Insights
Co-chair, S&P Global Research Council
Ashutosh Singh
Head of Energy Transition Program Management,
S&P Global Commodity Insights
Co-lead, Look Forward: Multidimensional Transition
Juliana Abella
Research and Analysis Director,
S&P Global Commodity Insights
Kurt Barrow
Head of Oil Markets,
Midstream and Downstream Research,
S&P Global Commodity Insights
Julien Bernu, CFA
Associate Director,
EMEA Utilities,
S&P Global Ratings
Simon Blakey, Ph.D.
Senior Advisor,
S&P Global Commodity Insights
Marie-Louise du Bois
Head of Carbon Pricing,
S&P Global Commodity Insights
Etienne Gabel
Senior Director,
S&P Global Commodity Insights
Peter Gardett
Executive Director,
Financial and Capital Markets,
S&P Global Commodity Insights
Judson Jacobs
Executive Director,
Energy Technology and Innovation,
S&P Global Commodity Insights
Roman Kramarchuk
Head of Climate Markets & Policy Analytics,
S&P Global Commodity Insights
Eleonor Kramarz
Vice President,
Consulting,
S&P Global Commodity Insights
Raoul LeBlanc
Vice President,
Upstream,
S&P Global Commodity Insights
Olivier Maronneaud
Director,
Methanol and Plastics Circularity,
S&P Global Commodity Insights
Claire Mauduit-LeClercq
Director,
EMEA Utilities,
S&P Global Ratings
Anastasia Pantazopoulou
Analyst,
Hydrogen and Low-Carbon Gas,
S&P Global Commodity Insights
Carlos Pascual
SVP,
Geopolitics & International Affairs,
S&P Global Commodity Insights
Chengyao Peng, Ph.D.
Director,
S&P Global Commodity Insights
Paola Perez
Principal Research Analyst,
S&P Global Commodity Insights
Tony Potter
Vice President,
Chemicals, Derivatives,
Plastics and Materials Lead,
S&P Global Commodity Insights
Catherine Robinson
Executive Director,
Hydrogen and Low-Carbon Gas,
S&P Global Commodity Insights
Shankari Srinivasan
Vice President,
Global Gas, LNG and Low-Carbon Gas,
S&P Global Commodity Insights
Michael Stoppard
Global Gas Strategy Lead,
S&P Global Commodity Insights
Eduard de Vedruna Sala
Vice President,
Clean Energy Technology Lead,
S&P Global Commodity Insights
Daniel Yergin, Ph.D.
Vice Chairman,
S&P Global
Edurne Zoco, Ph.D.
Research and Analysis Executive Director,
S&P Global Commodity Insights

Sponsors & Contributors


Martina Cheung
President,
S&P Global Ratings
Executive Sponsor, S&P Global Research Council
Alexandra Dimitrijevic
Global Head of Research & Development,
S&P Global Ratings
Co-chair, S&P Global Research Council
Atul Arya, Ph.D.
Chief Energy Strategist,
S&P Global Commodity Insights
Co-chair, S&P Global Research Council
Ashutosh Singh
Head of Energy Transition Program Management,
S&P Global Commodity Insights
Co-lead, Look Forward: Multidimensional Transition
Juliana Abella
Research and Analysis Director,
S&P Global Commodity Insights
Kurt Barrow
Head of Oil Markets,
Midstream and Downstream Research,
S&P Global Commodity Insights
Julien Bernu, CFA
Associate Director,
EMEA Utilities,
S&P Global Ratings
Simon Blakey, Ph.D.
Senior Advisor,
S&P Global Commodity Insights
Marie-Louise du Bois
Head of Carbon Pricing,
S&P Global Commodity Insights
Etienne Gabel
Senior Director,
S&P Global Commodity Insightsl
Peter Gardett
Executive Director,
Financial and Capital Markets,
S&P Global Commodity Insights
Judson Jacobs
Executive Director,
Energy Technology and Innovation,
S&P Global Commodity Insights
Roman Kramarchuk
Head of Climate Markets & Policy Analytics,
S&P Global Commodity Insights
Eleonor Kramarz
Vice President,
Consulting,
S&P Global Commodity Insights
Raoul LeBlanc
Vice President,
Upstream,
S&P Global Commodity Insights
Olivier Maronneaud
Director,
Methanol and Plastics Circularity,
S&P Global Commodity Insights
Claire Mauduit-LeClercq
Director,
EMEA Utilities,
S&P Global Ratings
Anastasia Pantazopoulou
Analyst,
Hydrogen and Low-Carbon Gas,
S&P Global Commodity Insights
Carlos Pascual
SVP,
Geopolitics & International Affairs,
S&P Global Commodity Insights
Chengyao Peng, Ph.D.
Director,
S&P Global Commodity Insights
Paola Perez
Principal Research Analyst,
S&P Global Commodity Insights
Tony Potter
Vice President,
Chemicals, Derivatives,
Plastics and Materials Lead,
S&P Global Commodity Insights
Catherine Robinson
Executive Director,
Hydrogen and Low-Carbon Gas,
S&P Global Commodity Insights
Shankari Srinivasan
Vice President,
Global Gas, LNG and Low-Carbon Gas,
S&P Global Commodity Insights
Michael Stoppard
Global Gas Strategy Lead,
S&P Global Commodity Insights
Eduard de Vedruna Sala
Vice President,
Clean Energy Technology Lead,
S&P Global Commodity Insights
Daniel Yergin, Ph.D.
Vice Chairman,
S&P Global
Edurne Zoco, Ph.D.
Research and Analysis Executive Director,
S&P Global Commodity Insights



Lead Editors
Ellen White, Editor
Angela Long, Lead Editor

Project Manager
Ashutosh Singh, Head of Energy Transition Program Management

Production Manager
Cat VanVliet, Senior Design Manager, Data Visualization

Copy Editor
Mary Minton, Editor

Graphics Editor
Matthew Schick, Senior Editor, Visuals

Head of Editorial, Design & Publishing Team
Ken Fredman

Content Strategy
Nathan Hunt, Vice President of Content and Digital Marketing

Communications
Joanna Vickers, Public Relations Director

Website Development
Kurt Burger, Marketing Specialist

Social Outreach
Camille McManus, Marketing Specialist

Designer
Augusto Justiniano, Senior Designer
Lead Editors
Ellen White, Editor
Angela Long, Lead Editor

Project Manager
Ashutosh Singh, Head of Energy Transition Program Management

Production Manager
Cat VanVliet, Senior Design Manager, Data Visualization

Copy Editor
Mary Minton, Editor

Graphics Editor
Matthew Schick, Senior Editor, Visuals

Head of Editorial, Design & Publishing Team
Ken Fredman

Content Strategy
Nathan Hunt, Vice President of Content and Digital Marketing

Communications
Joanna Vickers, Public Relations Director

Communications
Joanna Vickers, Public Relations Director

Website Development
Kurt Burger, Marketing Specialist

Social Outreach
Camille McManus, Marketing Specialist

Designer
Augusto Justiniano, Senior Designer
Lead Editors
Ellen White, Editor
Angela Long, Lead Editor

Project Manager
Ashutosh Singh, Head of Energy Transition Program Management

Production Manager
Cat VanVliet, Senior Design Manager, Data Visualization

Copy Editor
Mary Minton, Editor

Graphics Editor
Matthew Schick, Senior Editor, Visuals

Head of Editorial, Design & Publishing Team
Ken Fredman

Content Strategy
Nathan Hunt, Vice President of Content and Digital Marketing

Communications
Joanna Vickers, Head of of Reputation and Corporate Communications

Website Development
Kurt Burger, Marketing Specialist

Social Outreach
Camille McManus, Marketing Specialist

Designer
Augusto Justiniano, Senior Designer