BP: Global energy demand to increase by one third by 2040

Baku, February 15, AZERTAC

Global energy demand will surge by a third over the next two decades on advancing prosperity, but Indian demand growth will eclipse that of flagging giant China, BP said in its Energy Outlook 2019.

"The demand for energy is set to increase significantly driven by increases in prosperity in the developing world.”

China and India will together account for more than half of the growth in energy consumption during the forecast period, according to BP.

However, Chinese demand growth will be hit by the superpower's economic slowdown and is expected to be outpaced by India, the company said.

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