This survey was conducted in December 2020 by the European Bank for Reconstruction and Development (EBRD) among senior decision-makers in the energy sector across the regions in which the Bank invests, including the EaP region. Through this survey, the EBRD aimed to investigate how the sector will deal with the 5 per cent fall in energy demand worldwide brought by COVID-19 in 2020. This note summarises respondents’ wide-ranging views on the impact and severity of the crisis and gives an overview of their thoughts on the prospects for recovery.

The survey shows that energy leaders are confident of a quick recovery. One-third of respondents from 32 countries across the EBRD regions say they believe energy demand will recover fully in 2021; a further 45 per cent believe it will have recovered by the end of 2022; and more than 90 per cent believe recovery will be complete by the end of 2023.