ABSTRACT

A one-line defi nition of ‘energy security’ might be: an assured access to energy resources, at affordable prices, to obtain sustainable economic growth rates and economic development.

Most of the world’s energy comes from hydrocarbons (oil and gas), which account for 65 per cent of the world’s energy requirements. While oil accounts for 42 per cent of the global energy mix, the other sources of global energy are coal (24 per cent), natural gas (22 per cent), nuclear energy (6 per cent) and renewable and non-conventional sources (7 per cent). World energy demand has increased by 95 per cent over the last 30 years and is expected to rise by 60 per cent over the next 20 years. During this period, the demand for oil will increase by 42 per cent, while the demand for gas will increase by 97 per cent.