World Energy Demand Up 53 Percent By 2030

Global primary energy demand will increase by 53 percent by 2030, the International Energy Agency said Tuesday.

The IEA’s yearly outlook of the world’s energy scene, World Energy Outlook 2006, also says that more than 70 percent of this increase will come from developing countries, led by China and India.

Imports of oil and gas in the rich nations and developing Asia are expected to grow even faster than demand, as global oil demand reaches 116 million barrels per day in 2030, up from 84 million barrels per day in 2005.

Oil and gas prices this year have been between three and four times higher than in 2002 and this is reflected in a new oil price assumption for the projections, the IEA said in a statement. But world economic growth has remained robust, as the recessionary effects of higher energy prices have been more than offset by other factors. Coal is now cheaper than natural gas for electricity generation, while nuclear power may, in some cases, be cheaper than both coal and gas — even where there is no penalty for emitting carbon dioxide.