HomeIndustry SectorsGenerationGlobal energy demand up by 35% by 2030

Global energy demand up by 35% by 2030

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Irving, Texas, United States — ESI-AFRICA.COM — 28 January 2011 – Global energy demand will climb 35% from 2005 levels by 2030, amid rapid economic growth and an improvement in living standards in developing nations, an Exxon Mobil Corporation forecast shows.

Consumption of natural gas would surpass use of coal as the second-largest global energy source after oil, according to the company’s “Outlook for Energy: A View to 2030”, used to guide its investment decisions. Worldwide electricity consumption would rise more than 80% during the period, it said.

The estimate by the world’s largest publicly traded oil company is in line with a November forecast by the International Energy Agency (IEA), the Paris-based adviser to 28 nations. The IEA said energy demand would grow 36% from 2008 to 2035, with 93% of the gain coming from nations outside the Organisation for Economic Cooperation and Development.

The outlook “clearly points to a growing demand for energy globally,” Exxon Mobil CEO Rex Tillerson said in a statement. “The forecasts also show a shift toward natural gas as businesses and governments look for reliable, affordable and cleaner ways to meet energy needs.”

Non-OECD countries will see overall demand grow by 70% in the 25 years to 2030, while improvements in energy efficiency will keep consumption flat in the industrialised nations, according to the Exxon Mobil report, which is issued annually. The IEA said that Chinese demand alone will rise 75% by 2035, compared with 2005 levels.

Non-OECD demand for power will more than double as more people gain access to electricity, Exxon Mobil said. Demand for natural gas for power generation will jump around the world and increase sixfold in China, it said.