Key Market Indicators
Luxembourg's energy consumption is projected to remain steady at approximately 0.14 exajoules by 2028, the same level as in 2023. This stability comes after decades of a gradual decline; since 1970, the country's energy demand has decreased by an average of 3.3% annually. In the global rankings for 2023, Luxembourg stood at 75th place, just behind Latvia, which also recorded consumption at 0.14 exajoules. The top positions were held by the United States, India, and Russia. Similarly, Luxembourg's energy supply is forecasted to remain constant at around 3.95 million tonnes of oil equivalent by 2028, mirroring the supply levels of 2023. This static trend follows a modest annual increase of 0.3% since 1965. In 2023, Luxembourg was ranked 33rd globally in energy supply, with Moldova slightly ahead at the same supply level of 3.95 million tonnes of oil equivalent. France, Saudi Arabia, and the United Kingdom took the second, third, and fourth positions, respectively.
