Asian Demand and Energy Competition
According to the forecast by our institute, the world’s energy primary energy demand will increase by 1.6 times between 2005 and 2030. On the other hand, energy demand of Asia will increase twice, reflecting population increases and high economic growth. It is projected that China and India wiill account for 27% and 12% of the global energy demand in 2030, resectively. In terms of energy supply mix in Asia, coal and oil will continue to be the most dominant sources and use of natural gas, especially LNG, will expand substantially for power generation and household use. As a result, approximately 90% of the increase in energy demand in Asia will be supplied by fossil fuels.