Key Market Indicators
Cyprus is projected to see its energy consumption hit 0.12 exajoules by 2028, marking a steady annual growth rate of nearly 1% from its 0.12 exajoules in 2023. Since 1970, the island nation has experienced a slight decline in energy demand, averaging a 0.3% decrease each year. In 2023, Cyprus ranked 76th in global energy consumption. Luxembourg edged ahead with a comparable 0.12 exajoules. On the global stage, the United States, India, and Russia held the second, third, and fourth positions, respectively, in energy consumption rankings.
