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The Silicon Review Asia

India to be one of the largest source of energy demand growth by 2050

India to be one of the largest source of energy demand growth by 2050

India will be the largest source of demand growth for energy by 2050, BP Plc stated in a recent press meet, as it saw an end to the relentless expansion of oil globally. One of the largest oil and gas firm BP said global oil consumption might never return to levels seen before the coronavirus crisis took hold. India is the largest source of demand growth out to 2050 in all three scenarios. In a recent report, India's primary energy consumption is growing by 2.5 percent between 2018 and 2050.

"Demand for oil falls over the next 30 years. The scale and pace of this decline are driven by the increased efficiency and electrification of road transportation. Global energy demand continues to grow, at least for a period, driven by increasing prosperity and living standards in the emerging world," the firm stated in a recent statement.

India's oil consumption can be doubled to 10 million barrels by 2050 under the business-as-usual scenario, while gas demand rises from 58 billion cubic meters to 357 bcm under the Rapid scenario. BP said the central view used in the main scenarios is that global economic activity partially recovers from the impact of the pandemic over the next few years as restrictions are eased

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