World demand for energy to grow at its fastest pace (2.3% in 2018)

The year 2018 marked an increase in demand for all fuels, but natural gas was the fastest growing energy source as being the preferred fuel, accounting for 45% of the increase in energy consumption. Gas demand growth has been particularly strong in the United States and China.

Electricity continues to position itself as a “fuel for the future.” Global electricity demand rose by 4% in 2018 to more than 23,000 TWH to account for 20% of total final energy consumption.

Renewable energy sources lead the growth in energy production. China is a pioneer in renewable energy, for both wind and solar power, followed by Europe and the United States.

Dr. Fatih Birol, Executive Director of the International Energy Agency (IEA), summarizes his remarks on the 2018 primary energy movement as follows:

– Energy demand increased by 2.3% last year, the fastest pace of this decade, due to the growth of the global economy and increased heating and cooling requirements in some areas.

– There is an extraordinary increase in world energy demand in 2018, growing at its fastest pace during the decade, with natural gas leading the way by seizing half the growth in world energy demand.

– Global emissions continue to rise despite the significant growth of renewable energy sources in 2018, requiring more urgent action to develop all clean energy solutions, reduce emissions, improve efficiency, stimulate investment and innovation, including carbon capture, use and storage.

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