Frontier CEO Brief: World Energies Summit x S&P Global - Global Hydrocarbon Liquids: Supply & Demand
As I reflect on the 3rd edition of the World Energies Summit this month in London, I am reminded of the importance of collaboration in shaping meaningful analysis and sound insight on the future of global energy demand. This year at the Summit, I was delighted to share a comprehensive report prepared by S&P Global Commodity Insights exclusively for the Summit. Their analysis framed our discussions in London and ensured delegates were equipped with vital context which I wanted to share with you.
This report, Global Liquids Outlook: Scenarios for Global Hydrocarbon Liquids Demand and Supply 2025–2060, provided invaluable insight at a time of volatility and uncertainty in worldwide markets. It highlighted the resilience of fossil fuels, the deferral of peak liquids demand to 2032, and the complex choices facing governments, investors, and operators. These findings reminded us that the pathway ahead is neither linear nor uniform - and that understanding multiple possible outcomes is critical for planning.
Several themes stood out. First, the report made clear that the concept of an “energy transition” is no longer sufficient; instead, we must consider a range of scenarios, from adaptation strategies prioritising resilience and growth, to accelerated transitions driven by emerging markets. Second, the divergence in outlooks was striking: by 2060, the difference between plausible scenarios exceeded 60 million barrels per day of liquids demand. This range presented both opportunities and risks for the upstream sector. Third, the analysis highlighted the ongoing depletion of conventional resources and the decline in exploration activity, reinforcing the urgency of identifying and funding advantaged resources for the future.
At the World Energies Summit, our purpose was to create a platform where such insights could be shared, challenged, and tested against the realities of today’s industry. The 2025 Agenda reflected this ambition, providing delegates with the chance to engage with these findings in the context of regional dynamics, investment opportunities, and government priorities.
Several key takeaways emerged from this year’s discussions at the Summit:
A recognition that energy security and affordability remain central to policy in both mature and emerging markets, even as decarbonisation ambitions accelerate.
The emergence of Asia Pacific and Africa as pivotal regions shaping global demand growth and investment flows.
A renewed focus on collaboration between NOCs, IOCs, and independents to navigate capital discipline, fiscal evolution, and technological adaptation.
And, perhaps most importantly, an acknowledgment that investment in new supply - particularly in low-cost, low-carbon intensity assets — is essential to ensure stability through the transition period.
Looking back, I am immensely proud of what we achieved together. The 3rd edition of the World Energies Summit was our most impactful yet — one that strengthened global understanding, inspired collaboration, and brought us closer to shaping a secure, sustainable, and prosperous global energy future.
If you were unable to join us in London, or wish to explore the data and insights that guided this year’s discussions, I invite you to download your complimentary copy of the S&P Global Commodity Insights report. This in-depth study — Global Liquids Outlook: Scenarios for Global Hydrocarbon Liquids Demand and Supply 2025–2060 — remains an essential resource for understanding the evolving dynamics of global demand and supply.
You can download your free copy via the Frontier website or contact our team directly to receive it. I encourage all industry stakeholders to review this analysis - it provides the context, evidence, and foresight needed to plan confidently in an uncertain world and will continue to inform our dialogue in the future.
Request Report: here
With Thanks to the Contributors from S&P Global
