CAREC has issued Energy Outlook Report 2030 for its member countries including Central Asia and the Caucasus, as well as their neighbours Mongolia, Pakistan and China.
According to the report, the energy demand in the CAREC region (excluding China) may grow by more than 30 percent by 2030
Energy consumption of natural gas is also expected to increase, reflecting its dominant position as a fuel for electricity generation and direct consumption in the residential and industrial sectors.
Hydropower is currently the largest source of renewable energy in the CAREC region, with more than 380 gigawatts (GW) of installed capacity as of 2019, including China, Tajikistan, Kyrgyzstan and Georgia, which rely heavily on hydropower.
The CAREC region (excluding China) needs about $340 billion in energy investment
Taking into account the size of the CAREC countries’ market and the need for infrastructure modernization, its need for energy investment by 2030 (excluding China) is estimated at 136-339 billion dollars.
If China is also included in this calculation, the investment needs of the region are estimated at 2.9-3.8 trillion dollars. These include investments in energy production and energy efficiency.