Key Market Indicators
Azerbaijani energy consumption is projected to reach approximately 0.74 exajoules by 2028, up from around 0.71 exajoules in 2023. This represents an average annual growth rate of 0.8%. Since 1990, Azerbaijan's energy demand has been increasing at an annual rate of 2.7%. In 2023, the country ranked 63rd in global energy consumption, a position overtaken by Ecuador, which also recorded around 0.71 exajoules. Globally, the United States, India, and Russia held the second, third, and fourth positions, respectively, in energy consumption rankings.
