Caspian Energy Journal Caspian European Club
Thursday, 21 September 2017 15:00

Beyond China and India, energy consumption in non-OECD Asia continues to grow

Based on projections in EIA’s International Energy Outlook 2017 (IEO2017), much of the future growth in world energy consumption will occur in the nations of Asia outside of the Organization for Economic Cooperation and Development (or non-OECD Asia). Although China and India account for most of the region’s energy consumption, EIA projects broad growth in other Southeast Asian nations, including Indonesia, Thailand, and Malaysia,Caspian Energy News ( reports with reference to EIA.

These other non-OECD Asian nations are relatively small consumers of energy individually, but collectively they accounted for 7% of world primary energy consumption in 2015. IEO2017 projects that by 2040, the nations of non-OECD Asia excluding China and India will account for nearly 10% of the world’s primary energy consumption.

These countries’ collective gross domestic product (GDP) is projected to nearly triple between 2015 and 2040, far outpacing population growth, which is expected to increase by 30% between those years. Projected economic and demographic trends lead to a strong increase in average household income, from about $5,000 (in real 2010 dollar terms) in 2015 to more than $12,000 by 2040 in the IEO2017 Reference case.

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