India to see fastest energy consumption growth, says BP’s Energy Outlook


India will show the fastest energy consumption growth among all major economies and remain import dependent, despite rapid increases in non-fossil fuel production, BP’s Energy Outlook forecasting the state of global energy scenario between 2014-2035 said.

The report said it sees India’s energy consumption grow by 4.2% per year, faster than all major economies in the world and India’s coal consumption (+435 Mtoe) as the largest in the world. It forecast renewables to grow by more than 6.5 times from 2014 to 2035.

Oil import will rise by 161% and account for 52% of the increase in imports, followed in volumetric terms by increasing imports of coal (+122%) and gas (+301%) in the period, the report added. It made the following predictions:

  • Demand for gas expands by 155%, followed by coal (+121%) and oil (+118%), while renewables rise by 656%, nuclear by 334%, and hydro by 99%.
  • India’s energy mix evolves very slowly over the Outlook, with fossil fuels accounting for 87% of demand in 2035, compared to a global average of 79%. This is down from 92% in 2014.
  • India’s share of global demand rises by 9% in 2035, accounting for the second largest share of the BRIC countries with China at 25%, Russia 4%, and Brazil 2%.
  • India’s demand growth of 136% is more than double the non-OECD average (+56%), and India also outpaces each of the BRIC countries: Russia (+11%), China (+48%), and Brazil (+45%).
  • Energy in transport grows by 5.1% p.a. from 2014 to 2035 and oil remains the dominant fuel source with a 93% market share in 2035.

The report said energy consumption in power generation will more than double (+145%); coal will remain the dominant fuel source, but its market share in the power sector will drop from 77% in 2014 to 71% in 2035.

  • India’s energy production as a share of consumption declines from 57% in 2014 to 54% by 2035 as imports rise by 153%.
  • Decline in oil production (-24%) is offset by increases in gas (+68%) and coal (+120%).
  • Coal remains the dominant fuel produced in India with a 66% share of total production in 2035.
  • Renewables overtake oil as the second largest, increasing from 4% to 13% in 2035 as oil drops from 11% to 4%.
  • CO2 emissions from energy use rise by 122%. Emissions per unit of GDP fall by 37% by 2030.
  • By 2035, India’s energy intensity of GDP is nearly 40% lower than today’s level, compared to an average BRIC decline of 44%.


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