Fatih Birol, President of the International Energy Agency (IEA), said that the changing structure of the Chinese economy is one of the important driving forces behind the organization’s confidence that the demand for fossil fuels will reach its peak by 2030. CNBC.
According to him, the gradual change in the energy structure of China, currently one of the world leaders in fossil fuel consumption, will bring the timing of the world phase out of oil closer. Birol announced that as a result, the share of fossil resources in global energy supply will decrease from 80 percent to 73 percent by 2030.
According to IEA analysts, within seven years not only global oil consumption but also other types of fossil fuels such as natural gas and coal will peak. And this will also be facilitated by China, which is gradually moving away from its previous dependence on industries such as steel and cement production, as well as the construction of railways and other polluting infrastructure.
“All of them (the above-mentioned industries – socialbites.ca) are in decline. “As a result, China’s demand for fossil fuels will be much less than in the last 10 years,” he concluded.
Previously China’s January-September 2023 imported Approximately 80 million tons of oil worth over 43.5 billion dollars came out of Russia. This figure increased by 24.4 percent compared to last year.
It was previously known that Russian oil was delivered by tankers. reached the maximum starting from June.