The International Energy Agency (IEA) says in its latest World Energy Outlook that the level of spending on energy imports is projected to continue to rise substantially to reach $2.9 trillion in 2040, “driven mostly by non-OECD [non-developed countries where spending on energy imports nearly triples”.
“The reordering of energy trade flows towards Asian markets gathers pace,” said the document, which drives the organisation’s current estimate horizon five years forward, to 2040.
According
