BP: Global Energy Demand to Grow by a Third

BP: Global Energy Demand to Grow by a Third
Global energy demand will grow by around a third, driven by a burgeoning Asian middle-class, according to BP's latest energy outlook.

Global energy demand will grow by around a third, driven by a burgeoning Asian middle-class, according to BP’s latest energy outlook.

“Global demand grows by around a third in the base case, with virtually all of this increase consumed by fast growing emerging economies,” Spencer Dale, BP’s group chief economist, said.

In terms of the fuels meeting this increased demand, BP’s outlook points to a continuing shift in the fuel mix, with non-fossil fuels providing half of the increase in primary energy, Dale said.

“Even so, oil and gas, together with coal, continue to meet the majority of the world’s energy needs, accounting for more than three quarters of total energy supply in 2035,” he added.

Natural gas is also expected to grow more quickly than either oil or coal, overtaking coal to be the second largest fuel source by 2035.

BP’s Energy Outlook sets out a base case which outlines the 'most likely' path for global energy markets until 2035, based on assumptions and judgments about future changes in policy, technology and the economy.

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at andreas.exarheas@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Andreas Exarheas
Assistant European Editor | Rigzone
 -  Oil, Gas Workers Rally in WV to Suppor... (Mar 22)
 -  Wood Group Aims to Grow Employment in ... (Mar 21)
 -  HITS JIP Helps EM&I Increase Employmen... (Mar 21)
 -  Scotland Urged to Open Up on Mental He... (Mar 20)
 -  Under-$50 WTI Oil Price Will Be 'Short... (Mar 20)


Most Popular Articles

From the Career Center
Jobs that may interest you
Office Manager
Expertise: Asset Management|Operations Management|Secretarial or Administrative
Location: Von Ormy, TX
 
Port Engineer
Expertise: Marine Engineering|Operations Management|Ships Engineer
Location: Albany, NY
 
Sr. Analyst - Mobile & Application Development
Expertise: IT - Programming & Database|IT - Software Development|Project Management
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $50.64/BBL 0.62%
Light Crude Oil : $48.04/BBL 1.47%
Natural Gas : $3.01/MMBtu 2.58%
Updated in last 24 hours