Confirmed increase in energy consumptions in a context of soaring crude oil prices; but economic growth is twice faster.
According to the latest estimates by Enerdata, The world energy demand growth remains sustained in 2006, but twice slower than the GDP’s growth, probably due to high energy prices on the international market.
Oil
The oil demand, very captive, confirms once again its low elasticity to prices.
71% of the world oil product demand is concentrated on transport and petro-chemical sectors (77% in Europe, +13 points since 1990; 89% in North America).
Gas/Electricity
Gas demand growth in 2006 is driven by Asia and the CIS, obvious price effects in the European Union.The CIS regains its position in the world production growth (22% in 2006 against 13% in 2005 and 33% in 2004) ...
The power generation growth is more and more dominated by China and other Asian countries. The world electricity demand increases in the same proportions as in 2005 and 2004 : 4%/year.
Coal
Coal accounts for half of the world increase in energy consumption in 2006China still accounts for 72% of the coal consumption, India for 10%, the rest of Asia 8% the rest of the world 10%.