IEA says energy security driving Asia’s push towards biofuels

October 21, 2019 |

In France, the International Energy Agency says improving security of supply is a fundamental reason for the introduction of biofuel policy support in China, India and Indonesia, which in turn has raised production prospects. Combined, these countries account for 40% (15 billion liters) of biofuel production growth in the main case forecast (2019‑24).

Crude oil import dependency is set to increase in all three countries over the forecast period, meaning that measures to reinforce security of supply are of paramount importance. China already overtook the United States as the largest crude oil importer in 2017, India’s oil demand is set to rise 25% by 2024, and Indonesia’s oil production is expected to fall significantly while demand rises.

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Category: Fuels

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