Energy Consumption Expected to Grow as Nation’s Demand Increases
Energy consumption is expected to grow in 2016 as the world’s largest energy consumer demand for crude oil is said to reach 550 million tons and demand for natural gas will be at 205 billion cubic meters. Electricity consumption increases to 5.7 trillion kilowatts and coal consumption is at 3.96 billion tons. Non fossil fuels make up 13.2 percent of the primary energy needs for 2016, up by 12 percent compared to this year as coal falls less than 62.6 percent.
Natural gas accounts for 6.2 percent as non fossil fuels that includes nuclear and renewables accounts for 35.7 percent. Renewable power accounts for 1.7 trillion kilowatts per hour with more than 20 gigawatts of wind and 15 gigawatts of photovoltaic solar capacity is added. The overall growth in energy consumption was at its lowest since 1998 which is at 0.9 percent. For this year, China imported 330 million tons of oil and 60 bcm of natural gas with and installed energy capacity reaching 1.47 billion kilowatts or up by 7.5 percent.
Furthermore China is stopping all approval on coal mining projects for the next three years starting in March and is planning to close more than 1,000 mines that have lag behind in production. Crude oil production is also expected to increase to 220 million tons, even as global prices are at its 11 year low. Natural gas production including shale gas and coal bed methane is also expected to increase to 140 bcm.