The World is Entering a Phase of Structural Growth in Electricity Consumption – Sechin

The world is entering a phase of structural growth in electricity consumption, and a shortage of generating capacity may arise in the coming years, said Igor Sechin, Executive Secretary of the Commission under the President of the Russian Federation for Strategic Development of the Fuel and Energy Sector and Environmental Security, at the Energy Panel of the XXIX St. Petersburg International Economic Forum.

During his presentation of the report, he noted the need to expand and modernize the entire energy infrastructure in connection with the application of artificial intelligence technologies. "Global demand for data center capacity is projected to nearly triple over the next five years, reaching 220 gigawatts, with artificial intelligence-related tasks accounting for over 70% of this capacity. That said, the cost of the new tariff will be allocated to all consumers," Sechin noted.   He recalled that for the last two hundred years, the global economy has grown through the consumption of fossil energy resources (coal, oil, gas). At the same time, in the 21st century, the energy system is entering a new phase – a "molecules to electrons" model is forming, the key element of which is data centers.

"The world is currently entering a phase of electricity consumption structural growth. According to the International Energy Agency, by 2035 global electricity demand will increase by almost 40%. Such growth requires balanced energy system development based on stable and cost-effective power generation," Sechin said.

He emphasized that, according to many experts, the high rates of development of new technologies that we are observing today will lead to a shortage of generating capacity in the near future. In particular, Elon Musk expects an electricity shortage in about a year, and a semiconductor shortage within three to four years.

"Data centers already consume about 500 terawatt-hours per year worldwide, which exceeds the total electricity consumption of France. According to the International Energy Agency, by 2035 this figure could increase two and a half times to 1200 terawatt-hours, comparable to Russia's current consumption level," added Sechin.

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Rosneft Oil Company
June 6, 2026