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According to the United States Energy Information Administration (EIA), CO2 emissions from the domestic energy consumption are predicted to remain near current levels through 2050 and reach a total of 5,019 Mt by then, i.e. only 4% below their 2018 value. Emissions related to coal and oil consumption are forecast to decrease but will be offset by rising emissions from gas consumption.
According to the British industry body Oil and Gas UK (OGUK), exploration and production companies will have to invest a total £200bn (approximately €230m) to fully exploit the domestic oil and gas sector, to realise industry’s Vision 2035 and to add a generation of productive life to the basin. According to OGUK, production has increased by 20% over the past five years, following 14 years of decline.
The Kuwaiti government, through state-owned oil compangy Kuwait Petroleum Corporation (KPC), has outlined plans to boost the country's gas production capacity from the current 1.9 bcf/d (19.6 bcm/year) to 3.5 bcf/d (around 36 bcm/year) by 2031-2032. North Kuwait’s Jurassic gas fields should enable to reach 3 bcf/d (nearly 31 bcm/year), when they become fully operational, i.e. not before 2023-2024. In addition, gas imports should soar when the 22 Mt/year Al-Zour LNG import terminal project is commissioned in late 2021 or early 2022.
According to preliminary statistics released by the US Energy Information Administration (EIA), 31.3 GW of power generation capacity were added in the United States in 2018 while 18.7 GW of capacity were retired. The additions consisted primarily of gas-fired plants (62%), onshore wind (21%) and solar PV (16%). The remaining 2% entailed mostly hydroelectric and battery storage capacity. 90% of the gas-fired capacity was combined-cycle generators.