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For the first time in three years, investments in world energy have stopped falling

Investments in the global energy sector in 2018 stopped falling during the last three years and stabilized at more than $ 1.8 trillion, which is approximately the same as in 2017, according to the annual report of the International Energy Agency World Energy Investment 2019 (WEI 2019).
"In 2018, investments in the global energy sector stabilized at close to $ 1.85 trillion after three years of decline. The growth in investments in oil, gas and coal was offset by lower costs for the development of fossil fuel generation and renewable energy sources. energy efficiency has not changed. And for the third consecutive year the electric power sector has been ahead of oil and gas in terms of the volume of attracted investments, ”the report says. The United States showed the largest jump in the index due to the growth of investments in the extraction and development sector, especially in the production of shale oil, as well as in the development of power grids. And although, as before, China has become the largest energy investor in the world, the gap between the United States and China in this regard has narrowed. The second largest leap, after the USA, was demonstrated by India, while the countries of Central and West Africa retain the risks of under-financing for the energy sector.
At the same time, the IEA warns that despite the stabilization of energy investments, the number of approvals issued for the development of traditional oil and gas projects is not enough to meet the growing demand for energy in the world. There is not yet a significant shift in investment towards energy efficiency and the development of renewable energy. “Energy investments today face unprecedented uncertainty associated with changing markets, energy policies and technologies. But the main thing is that the world is not investing enough in traditional energy to support existing consumption patterns and new cleaner technologies to change the existing course. And how not to look at it, the risks of relative future are accumulating ", - the words of the head of the agency Fatih Birol are given in the IEA release.