Energy demand shifts further east

A POWER-HUNGRY world will see global energy demand rise by a third by 2035, according to the World Energy Outlook, published by the International Energy Agency (IEA). While rich countries will barely budge over the period, annual growth rates of around 2-3% are expected in South-East Asia, India, Brazil and the Middle East. China will account for 40% of the growth until 2025. After then India will overtake it to become the single biggest source of increasing demand. In the Middle East, consumption will soar because of booming economies and heavily subsidised prices. Oil will remain the largest single source of energy, though the IEA reckons its share of total energy consumption will decline from 31% to 27% by 2035. Coal's share of the global energy mix will also fall, while demand for natural gas will rise. Overall the total increase in demand for gas will outstrip both oil and coal combined.







