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February 2018

IEA report - Global shifts in the energy sector

Valves are among the essential components of conventional power plants. Against this backdrop, the valve industry is paying close attention to global developments in the energy sector. The Energy Outlook 2017 of the International Energy Agency describes the current situation and also ventures a look into the future.

Four large-scale shifts in the global energy system set the scene for the World Energy Outlook 2017: the rapid deployment and falling costs of clean energy technologies, the growing electrification of energy, the shift to a more services-oriented economy and a cleaner energy mix in China, and the resilience of shale gas and tight oil in the United States.

These shifts come at a time when traditional distinctions between energy producers and consumers are being blurred and a new group of major developing countries, led by India, moves towards centre stage. 

How these developments take place and interact is described in the IEA Outlook 2017, which can be downloaded here as an executive summary.

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