BAKU, Azerbaijan, December 26. The total primary energy supplies among CAREC countries, including China, are expected to increase by 12 percent on average by 2030, Trend reports via the CAREC Energy Outlook 2030, prepared by the experts of the Asian Development Bank (ADB).
Thus, the ADB estimates CAREC energy supplies to grow from 3,574 million tons of oil equivalent (toe) in 2020 to 3,859 - 4,086 million toe in 2030, depending on the scenario.
"From an annual growth perspective, primary energy demand is expected to grow by 2030 under each scenario: 0.8 percent per annum in the Green Growth scenario, 1.2 percent in the Government Commitments scenario, and 1.3 percent in the Business-as-Usual (BAU) scenario," the report said.
As the ADB noted, total primary energy supply within CAREC countries, including the PRC, is expected to remain highly reliant on coal through 2030.
"However, the share of coal in the supply of primary energy is projected to decrease across all scenarios, reaching 36 - 44 percent due to the transition to renewables. Moreover, the combined share of renewable and nuclear energy sources is projected to increase from 15 percent in 2020 to 22 - 33 percent in 2030, depending on the scenario," the report added.
Moreover, the final energy demand within CAREC, including the PRC, is forecast to grow by approximately 10 percent on average by 2030 - from 2.3 billion toe in 2020 to 2.4 billion - 2.7 billion toe in 2030, depending on the scenario.