According to him, China’s electricity generation is now more than twice that of the United States—a complete reversal of the situation 20 years ago. Sechin noted that China accounts for one-third of global energy-sector investment, with about $900 billion expected this year. This will be 30% more than all of North America combined and more than 1.5 times Europe’s investment.
He added that China’s rapid technological progress and unprecedented pace of electrification have made it the world’s largest energy consumer.