China's Energy Consumption Will Peak by 2035: CNPC

China's energy consumption will likely peak at 3.75 billion tonne of oil equivalent by around 2035, according to a CNPC report.

Consumption of fossil fuel will top out by around 2030 at 2.93 billion tonne of oil equivalent, CNPC’s Economics & Technology Research Institute stated. CNPC believes this will have a profound impact on global carbon emissions and climate change.

The report also suggested that in next 35 years, efficiency will play a key role in energy development with global energy consumption intensity gradually declining. It said the trend of increasing usage of low carbon energy in China is becoming obvious. The proportion of non-fossil energy sources will jump from the current 12 percent to 30 percent by 2050.

China's gas consumption will grow to 510 bcm in 2030 and to 710 bcm ib 2050. The average annual growth rate during 2014-2050 will be 3.8 percent. 

Although coal would still dominate the energy landscape, its usage will continue to decline.