China’s energy demand will peak at 4.06 billion tons of oil equivalent (btoe) by 2040, China National Petroleum Corp.’s (CNPC’s) research arm said on Wednesday.
This is later than a previous forecast peak of 3.75 btoe by 2035, given in July 2016. In its annual long-term energy outlook, CNPC’s Economics and Technology Research Institute attributed the revision to continued growth in transport fuel consumption until 2050 – two decades longer than previously estimated.
Clean energy, including renewables and gas, will replace coal as the largest fuel source...
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