Key Market Indicators
Portuguese energy consumption is projected to reach approximately 0.86 exajoules by 2028, down from 0.92 exajoules in 2023. This represents an average annual decline of around 1%. Since 1970, the country's energy demand has been decreasing at an average rate of 3.7% per year. In 2023, Portugal ranked 59th globally in energy consumption, with Hungary surpassing it with 0.92 exajoules. The United States, India, and Russia held the top three positions in this ranking. Similarly, Portuguese energy supply is expected to decrease to about 17.5 million tonnes of oil equivalent by 2028, from 19.1 million tonnes of oil equivalent in 2023. This marks an annual compound growth rate decline of approximately 1.3%. Since 1965, the country's energy supply has been falling at an average rate of 2.8% per year. In 2023, Portugal was ranked 16th in energy supply, with Morocco overtaking it at 19.1 million tonnes of oil equivalent. France, Saudi Arabia, and the United Kingdom occupied the second, third, and fourth spots, respectively, in this supply ranking.
Portugal Energy Key Players Articles
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Power Play: Masdar’s Strategic Bid for a Stake in TotalEnergies’ Portuguese Renewables
Apr 15th 2025
