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World Energy Outlook

  • ID: 4015465
  • Report
  • Region: Global
  • 20 Pages
  • The Economist Intelligence Unit
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(Forecast closing date: July 27th 2018)

The Economist Intelligence Unit expects energy demand to increase at an average annual rate of 1.7% during the forecast period (2018-22), with consumption growth for renewables growing faster than for natural gas and oil. We also expect a slight average annual reduction in coal consumption in the forecast period. The fastest expansion in demand will be for renewable energy, especially solar and wind power, consumption of which is expected to increase by an annual average of over 13% per year between 2018 and 2022.

Energy consumption growth will be driven mainly by developing economies outside the OECD, especially in Asia. China will continue to provide much of the momentum and will remain the largest consumer of energy, followed by the US. However, compared with the previous decade, the rate of Chinese energy consumption growth will moderate, while US demand will grow only slightly. In India energy demand growth will be relatively strong, although slightly slower than in 2013-17, and this emerging Asian economy will maintain its place as the third largest energy consumer. Meanwhile growth in Japan and Germany will be essentially flat until 2020, and growth in Russia will be modest.

Industry List: Alternatives, Energy, Coal, Energy, Electricity, Energy, Energy, Energy, Nuclear, Energy, Oil and gas
Industry Codes (NAIC): 22
Industry Codes (SIC): 49
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World Energy Outlook

World energy outlook
We expect energy demand growth to average 1.7% a year in 2018-22, with renewables outpacing oil and gas.
Demand for oil will be particularly strong in Asia and the Middle East
LNG exports from the mainland US will gain momentum
India's coal output will rise considerably in2018-22.
Global electricity demand will be driven by non-OECD countries
Half of all reactors under construction are in China
Renewables continue to grow rapidly, although investment growth is slowing

World energy outlook: Key forecasts

World energy outlook: Oil and gas
Non-OECD economies will drive global demand for energy
The transport sector will continue to fuel US oil demand
Oil demand will remain strong in Middle East and Asia
US shale oil: signs of revival
OPEC faces challenges in managing the market
Gas demand will grow faster than demand for coal and oil
China's annual gas demand growth will average 12%
Demand will be strong in the Middle East; less so in Europe
More Australian LNG will come online over the forecast period
The Trump administration is friendlier towards the fossil fuel industry

World energy outlook: Coal
The outlook for US coal demand is poor while China will also see demand fall
Europe's coal mini-boom is over
We expect supply growth to be weak, although Russia will expand output
India's coal output is strong butChina has slashed excess supply

World energy outlook: Electricity
We expect fast growth in Asia, the Middle East and Africa
Coal-fired capacity will fall by0.9% over the five years.

World energy outlook: Nuclear
Prospects for nuclear power in Europe and North America are subdued
Japan will begin nuclear restarts

World energy outlook: Alternative energy
Renewables will continue to make gains in Europe
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