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IEA forecasts unrelenting demand for energy

Posted on 17 November 2008

Global demand for natural gas will grow even more quickly than for oil. Its share in total energy demand will rise by 1.8% to 22%, driven mainly by power generation.

However, renewables appear to be the star of the story. According to the IEA, renewables use will overtake gas as the second-largest source of electricity (after coal) soon after 2010. Average rate of growth for these emerging energy sources is 7.2%.

IEA’s forecast is based on an average crude oil import price of $100/bbl in 2007 dollars for 2008-2015, and more than $120 in 2030.

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