Global gas demand expanded at its fastest rate since 2010

Oil&Gas Materials 26 March 2019 10:50 (UTC +04:00)

Baku, Azerbaijan, March 26

By Leman Zeynalova – Trend:

Global gas demand expanded at its fastest rate since 2010, with year-on-year growth of 4.6 percent, the second consecutive year of strong growth, driven by higher demand and substitution from coal, Trend reports with reference to the International Energy Agency (IEA).

“Demand growth was led by the United States. Gas demand in China increased by almost 18 percent,” reads a report by IEA.

The report shows that oil demand grew 1.3 percent worldwide, with the United States again leading the global increase for the first time in 20 years thanks to a strong expansion in petrochemicals, rising industrial production and trucking services.

“Global coal consumption rose 0.7 percent, with increases seen only in Asia, particularly in China, India and a few countries in South and Southeast Asia,” said IEA.

The report shows that nuclear also grew by 3.3 percent in 2018, with global generation reaching pre-Fukushima levels, mainly as a result of new additions in China and the restart of four reactors in Japan.

Worldwide, nuclear plants met 9 percent of the increase in electricity demand, according to IEA estimations.

“We have seen an extraordinary increase in global energy demand in 2018, growing at its fastest pace this decade,” said Dr Fatih Birol, the IEA’s Executive Director. “Last year can also be considered another golden year for gas, which accounted for almost half the growth in global energy demand. But despite major growth in renewables, global emissions are still rising, demonstrating once again that more urgent action is needed on all fronts — developing all clean energy solutions, curbing emissions, improving efficiency, and spurring investments and innovation, including in carbon capture, utilization and storage.”


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