Key Market Indicators
Luxembourg's energy consumption is projected to remain stable at approximately 0.14 exajoules from 2023 to 2028. This stability reflects a consistent average rate over the five-year period. Historically, since 1970, the country's energy demand has decreased by 3.3% annually. In the global context of 2023, Luxembourg ranked 75th in energy consumption, with Latvia surpassing it by reaching a similar consumption level of 0.14 exajoules. The leading nations in this ranking were the United States, India, and Russia, occupying the second, third, and fourth positions, respectively. Meanwhile, Luxembourg's energy supply is also expected to remain steady, maintaining around 3.95 million tonnes of oil equivalent from 2023 through 2028. This consistency follows a long-term trend since 1965, where the country's energy supply has grown by a modest 0.3% annually. In 2023, Luxembourg was positioned at number 33 globally in terms of energy supply, with Moldova slightly ahead, also at 3.95 million tonnes of oil equivalent. France, Saudi Arabia, and the United Kingdom held the second, third, and fourth spots in this ranking, respectively.
