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The IEA commented that China and India are expected to continue to use coal as a major source of energy supply. According to the analysis of the IEA's World Energy Outlook 2007 report, coal demand is expected to increase by 73% from 2005 to 2030, and by 2030 China and India will account for more than 80% of demand growth, and now China and India The country accounts for 45% of the world's coal consumption.
The analysis pointed out that the increase in coal consumption is due to the economic development of China and India. It is expected that the use of coal by China and India will increase by 6% annually by 2030. The application of coal to fuel in power plants has resulted in a significant increase in the proportion of total energy. All coal-fired power plants currently under construction have not adopted technologies to improve energy efficiency and reduce emissions. With the continuous rise in oil prices, natural gas prices are also rising, making the use of coal in the United States and Europe also increasing, which will lead to increased carbon emissions. Therefore, measures must be taken globally to encourage the adoption of more expensive non-coal solutions.
OPEC is still the main source of oil supply, and its share of production is expected to increase from the current 42% to 52% in 2030. Oil produced by non-OPEC countries will grow slowly by 2030, and from non-conventional resources such as Canadian oil sands, will have significant growth. The Middle East and Russia will dominate oil production, but they need to continue to increase investment to ensure market supply. According to the analysis, due to rising costs, the investment needed for basic energy facilities will increase to US$22 trillion.
The IEA report pointed out that although the production capacity of new oil fields is expected to increase over the next five years, there are still some uncertainties in remedying the decline in the output of existing oil fields and meeting future demand growth. According to the analysis, in the oil and gas supply chain, for every $4 spent on upstream activities, one dollar is used to meet oil demand, while the other three dollars is used to offset the decline in oil field production.
IEA Releases World Energy Demand Forecast
The International Energy Agency (IEA) released last week the prediction of world energy supply and demand in 2030. According to the forecast, if alternatives cannot be achieved, total global energy demand will increase by 55% by 2030 and China will lead this growth. In the total primary energy composition, oil will continue to be the largest fossil fuel used, increasing by 32% from 2006, but its share will drop from 35% to 32%, while the share of natural gas demand will increase from 21% to 22%. %.