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Energy Consumption Outlook | Energy Production Outlook

According to the long term projections of global energy markets elaborated by BP - one of the world's leading international oil and gas companies - global energy demand will rise by 41% between 2011 and 2035 but with gradually moderating pace. Moreover, major share (95%) of this growth will be ensured by the developing countries. Among all fuels, natural gas will contribute the most to the global energy demand growth, while demand for oil will continue to dominate in absolute terms. Concerning energy consumers, power generation sector is expected to account for more than a half (57%) of energy consumption growth whereas transport sector would be the slowest growing one, contributing only 13% to the global energy demand growth. That is mostly because of transport is gradually switching to the natural gas, electricity and biofuels, however being still dependent mostly on oil. What for energy supply, here emerging economies will also be the main drivers of growth, but not to such a big extent: United States will make its significant contribution to the global energy production due to rising shale gas and tight oil output.

Source: BP Energy Outlook 2035, January 2014

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