Jun 22, 2020 - Energy & Environment

China led the world in energy growth in 2019

Data: BP; Chart: Axios Visuals
Data: BP; Chart: Axios Visuals

BP's big annual energy data compendium provides a window onto the remarkable growth of China's footprint in global energy markets.

The big picture: "China was by far the biggest individual driver of primary energy growth [in 2019], accounting for more than three quarters of net global growth," the report last week notes.

Driving the news: There's all kinds of metrics of China's footprint, like its oil demand growing by 680,000 bpd last year and renewables growth far outpacing everyone else.

  • One that caught my eye is China's emergence and remarkable growth as an LNG importer over the last 15 years.
  • China is now the world's second-largest LNG importer behind Japan and largest overall gas importer.

Go deeper: Foreigners bought a record amount of Chinese local bonds in May

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