Energy Executives Warn: AI's Thirst for Power Will Outstrip Current Forecasts, Survey Reveals

A significant majority of energy industry leaders, 81%, anticipate that artificial intelligence will drive electricity demand beyond existing projections. This raises substantial concerns about the adequacy of global infrastructure to support the burgeoning data center sector. A recent global survey, commissioned by Adipec, Abu Dhabi's annual energy conference, found that 81 percent of energy industry insiders believe AI-driven electricity consumption will surpass current forecasts, with a notable 32 percent expecting a substantial increase. Only a small fraction, 3 percent, foresee demand falling below current projections, according to Adipec's Global Energy Report 2026, released on Thursday.

These findings emerge as technology companies intensify investments in energy-intensive data centers, presenting both opportunities for power producers and increased strain on electricity networks. The International Energy Agency (IEA) projects that data centers could consume approximately 950 terawatt-hours of electricity by 2030, nearly doubling the 2025 figures, as cited in the report. The escalating power demands from data centers have become a critical consideration for energy producers and governments alike. Earlier this year, at Abu Dhabi Sustainability Week, Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc, stated that global electricity requirements for data centers might increase fivefold by 2040.

The report's conclusions reinforce the "power is knowledge" theme that characterized discussions at ADIPEC last year, as previously reported by The National. The intricate relationship between AI and electricity remains a central theme for this year's event, scheduled to take place at Adnec Centre Abu Dhabi from November 2 to 5, 2026.

Technology Companies Ascend in Influence

The expansion of AI is also poised to reshape the influence dynamics within the energy sector. Approximately 43 percent of survey respondents believe that technology and AI companies will gain the most sway over the sector, significantly more than the 15 percent who selected governments and regulators. Financial institutions also received 15 percent of the vote, followed by international oil companies at 14 percent and national oil companies at 9 percent. These results underscore the deepening connection between AI and energy, with technology firms becoming major catalysts for investment in electricity generation and infrastructure.

For oil and gas companies, this evolving landscape presents new commercial avenues. While the growth of gas and liquefied natural gas currently represents the most significant commercial opportunity for oil and gas insiders, AI-driven efficiency is anticipated to claim the top spot within the next decade. About 27 percent of respondents identify AI-driven efficiency as a leading opportunity in 10 years, while 25 percent point to supplying power for AI and data centers.

Furthermore, the report indicates that 81 percent of oil and gas insiders consider adopting AI essential for maintaining profitability over the next decade. These findings are particularly pertinent to the UAE, where Abu Dhabi is developing a 5-gigawatt AI campus, set to house the Stargate UAE computing cluster with an estimated cost exceeding $30 billion.

However, a quarter of energy insiders express concerns that the industry is not adequately prepared for AI-driven electricity demand, citing grid delays as a primary obstacle. At last year's Adipec, Dr Al Jaber emphasized the need for substantial energy investment to meet these escalating requirements. The Adipec report, compiled by the global strategic communications consultancy Kekst CNC between August and October 2026, involved surveying 1,832 energy industry decision-makers across 78 countries and conducting 17 executive interviews. It is important to note that these findings reflect industry expectations rather than independently verified demand forecasts.