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Thursday, January 28, 2016

India’s energy demand to double in 25 yrs: Reports

US oil major ExxonMobil has said that India's energy demand is likely to double in next 25 years as the economy is estimated to expand to USD 9 trillion by 2040.

Commenting on the issue, an ExxonMobil Official told the media, "Through 2040, we see China, India and other non-OECD countries - home to seven-eighth of the world's population - needing much more energy to fuel economic development and rising living standards. On the other hand, the US, Europe and other OECD nations will see declines in overall energy demand and emissions, even as their economic output continues to grow."

"We anticipate some developed economies to see net declines in overall energy demand through 2040. By 2040, India will have passed China as the world's most populous nation, with 1.6 billion people,” he added.

As per reports, India's energy demand is likely to rise from 34 quadrillion British thermal units (BTU) to 47 quadrillion BTUs in 2025 and 63 quadrillion BTUs in 2040.