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India’s energy consumption to grow faster than major economies
India’s energy consumption is set to grow 4.2% a year by 2035, faster than that of all major economies in the world, according to BP Energy Outlook.
India, Asia’s second biggest energy consumer since 2008, had in 2015 overtaken Japan as the world’s third largest oil consuming country behind the US and China.
“We project that India’s energy consumption grows the fastest among all major economies by 2035. As a result, the country remains import dependent despite increases in production,” the publication said. India’s consumption growth of fossil fuels will be the highest by 2035 and it will overtake China as the largest growth market for energy in volume terms by 2030.
Globally, energy demand will increase by about 30% by 2035. Natural gas consumption will grow faster than either oil or coal, expanding at 1.6% a year.
Coal demand will peak in the mid-2020s, as China moves toward cleaner, lowercarbon fuels, the report said.
India’s gas demand to expand 162%, followed by that of oil (121%) and coal (105%). Renewables rise by 712%, nuclear by 317%, and hydro by 97%.
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