In its latest World Energy Outlook 2017 (focus on China), the International Energy Agency (IEA) highlights that China's energy future promises to be quite different from its past.
Key Findings from the report:
“The path China takes will have a profound impact on global markets, trade and investment flows, technology costs and the achievement of shared global goals.
Over the period to 2040, China’s policy choices and import needs have a huge impact on global trade and investment in oil, gas, and coal: by 2040, in our main scenario, almost 30% of the oil traded internationally is making its way towards China, and likewise almost one-quarter of the gas traded over long distances.
China’s influence on global efforts to address climate change can be equally profound: already in our main scenario, China is responsible for a large share of global investment in a range of clean energy technologies and applications, including electric vehicles, batteries, carbon capture and storage, nuclear power, and solar and wind power, with the potential to bend downwards the global cost curve in each case.”
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