India’s coal consumption grew fastest in the world in 2014: BP
India’s coal consumption was the highest in the world in 2014 at 11.1 per cent according to the 2015 edition of the BP Statistical Review of World Energy.
According to the report, global consumption of coal grew by only 0.4 per cent. Consumption growth was low even outside the OECD (Organisation for Economic Cooperation and Development) countries at 1.1 per cent.
In comparison, coal consumption growth in China was only 0.1 per cent.
Overall, energy consumption in India grew 7.1 per cent, which outperformed the global growth. Global energy consumption grew at 0.9 per cent in 2014.
“The eerie calm that has characterised energy markets in the few years prior to 2014 came to an abrupt end last year. However, should not be surprised or alarmed. These events may well come to be viewed as symptomatic of a broader shifting of the tectonic plates that make up the energy landscape with significant developments in both the supply of energy and its demand,” said BP Group Chief Executive, Bob Dudley.
According to the review, India’s share of global energy consumption stood at 4.9 per cent in 2014.
The country’s natural gas consumption continued to decline, a trend that goes back to 2011 when it reached a high. Despite the falling consumption, LNG imports increased by 6.7 per cent.
Another cause of concern is the low production. According to BP’s report, India produced 23.2 per cent of its oil consumption, the lowest ever and the fifth consecutive year of a decline in this ratio.