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BP energy outlook 2035

Global energy demand continues to grow but that growth is slowing and will mainly be driven by emerging economies - led by China and India - according to the latest edition of the BP Energy Outlook 2035. The Outlook reveals that global energy consumption is expected to rise by 41 per cent from 2012 to 2035 - compared to 52 per cent over the last twenty years and 30 per cent over the last ten. Ninety five per cent of the growth in demand is expected to come from the emerging economies, while energy use in the advanced economies of North America, Europe and Asia as a group is expected to grow only very slowly – and begin to decline in the later years of the forecast period. Shares of the major fossil fuels are converging, with oil, natural gas and coal each expected to make up around 27 per cent of the total mix by 2035 and the remaining share coming from nuclear, hydroelectricity and renewables. Among fossil fuels, gas is growing fastest, increasingly being used as a cleaner alternative to coal for power generation as well as in other sectors.

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