Meta's Mesa datacentre in the US
Energy’s electric shock
The scale of energy demand growth by 2030 and beyond asks huge questions of gas supply especially in the US
The IEA recently published a special study on energy and AI that builds on its global conference on the topic that took place in Paris last December. The report states that datacentres of all kinds accounted for 1.5% of global electricity consumption in 2024, amounting to 415TWh. That demand was highly concentrated, with the US accounting for 45% of consumption; China, 25%; Europe, 15%; and the rest of the world combined also 15%. According to the IEA’s forecast, datacentre demand is set to double by 2030, to around 945TWh, which is slightly more than Japan’s annual electricity consumption today. The projected rate of annual demand growth is 15% from 2024 to 2030, which is four times faster
Also in this section
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
21 January 2026
Petroleum Economist takes a look at the critical developments that look set to govern the course of the market for this year
20 January 2026
The ripple effects of US refiners switching to Venezuela grades will be felt from Canada to China and everywhere in between
