The central questions to be addressed in this paper are: what will be the global energy portfolio (supply–demand structure) in the future, and the major driving forces behind it? And what will be major implications of this global energy portfolio? This paper will attempt to determine and examine the possible future global energy outlook with due consideration to several important background factors, including economic growth, energy prices, technological development, resource availability, international relations, and geopolitical tensions. It will seek to address the implications of the global energy supply–demand outlook on energy security, climate change and the global energy business.

Energy is essential for human activities and economic/social development, which is why energy related issues often become very important political matters both domestically and internationally. Thus, security of supply and demand are critically important matters for energy stakeholders. As energy usage and development directly affect the environment, energy–environment considerations also naturally attract high attentions from energy stakeholders such as policy makers, the energy industries, consumers, and citizens.

This paper will employ a quantitative analysis of the global energy supply–demand outlook up to 2035, utilizing the Global Energy Model developed by the Institute of Energy Economics, Japan (IEEJ) to highlight the major features of the global energy landscape, as well as the energy futures of some of the major countries/regions such as China, India and the Middle East.