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This week, S&P Global Commodity Insights editors and analysts are looking at power demand from global data centers, European gas stocks, ADNOC's storage deal with South Korea and steel raw materials demand in the EU. 1. Global data center power demand set to exceed 120 GW in 2023 What's happening? Insatiable demand for data-intensive services is driving the meteoric rise of the data center industry, which accelerated in the wake of the global pandemic
China's growing energy needs on the back of a post-COVID economic recovery has put the spotlight on coal, but whether it will come from higher imports or a more aggressive domestic production remains debatable. While some analysts believe that rising domestic output will be sufficient to cater to the coal requirements this year, others think that an increase in imports is inevitable
Energy security was not the overarching concern at China's biggest political meeting of the year, the "Two Sessions" or "lianghui". The main outcomes of these were a revamp of financial regulators, data security and responding to the US' "containment" of the Chinese economy. But this does not mean that energy security has become less important