Global Energy Import Dependence Set to Peak by 2034, Rystad Says

· Oil & Gas

Rystad Energy's fifth edition of its flagship annual report, Global Energy Scenarios (GES) 2026, finds that global reliance on imported energy is projected to peak by 2034. The shift is driven by energy security concerns accelerating the move toward electrification. The report comes against the backdrop of two major energy crises in five years, which have pushed governments to reduce dependence on imported fossil fuels. The projected peak in import dependence is a key signal for oil and gas producers assessing long-term demand.

Why it matters：A peak in global energy import dependence by 2034 would signal structurally slower long-term demand growth for oil and gas exporters, prompting producers to reassess investment strategies and portfolio resilience.

Key points

  • Rystad Energy's GES 2026 is the fifth edition of its flagship annual report.
  • The report attributes the shift to energy security concerns accelerating electrification.
  • The projection is set against two major energy crises in five years.

Sources (original reporting)

More stories from this day