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Energy Demand Rose at a Record Rate

By  AOG Staff Tuesday, 26 March 2019 16:40
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Global energy demand grew 2.3% last year, marking its fastest pace in a decade, amid a robust global economy and stronger heating and cooling needs in many regions, said the International Energy Agency (IEA).

Pic: International Energy Agency
Pic: International Energy Agency

Natural gas emerged as the fuel of choice, posting the biggest gains and accounting for 45% of the rise in energy consumption. Gas demand growth was especially strong in the United States and China.

Demand for all fuels increased, with fossil fuels meeting nearly 70% of the growth for the second year running. Solar and wind generation grew at double-digit pace, with solar alone increasing by 31%. Still, that was not fast enough to meet higher electricity demand around the world that also drove up coal use.

Global gas demand expanded at its fastest rate since 2010, with year-on-year growth of 4.6%, the second consecutive year of strong growth, driven by higher demand and substitution from coal. Demand growth was led by the United States. Gas demand in China increased by almost 18%.

Oil demand grew 1.3% 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.

As a result, global energy-related CO2 emissions rose by 1.7% to 33 Gigatonnes (Gt) in 2018. Coal use in power generation alone surpassed 10 Gt, accounting for a third of the total increase. Most of that came from a young fleet of coal power plants in developing Asia. The majority of coal-fired generation capacity today is found in Asia, with 12-year-old plants on average, decades short of average lifetimes of around 50 years.

These findings are part of the International Energy Agency’s latest assessment of global energy consumption and energy-related CO2 emissions for 2018. The Global Energy & CO2 Status Report provides a high-level and up-to-date view of energy markets, including latest available data for oil, natural gas, coal, wind, solar, nuclear power, electricity, and energy efficiency.

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