International Energy Agency (IEA) reported on Thursday that global coal consumption climbed to a new all-time high in 2022 and will stay near that record level this year.
According to the IEAs mid-year Coal Market Update, coal consumption in 2022 rose by 3.3 percent to 8.3 billion tons.
Small declines in coal-fired power generation in 2023 and 2024 are likely to be offset by rises in industrial use of coal, IEA predicts Global coal demand is estimated to have grown by about 1.5 percent in the first half of 2023 to a total of about 4.7 billion tons, lifted by an increase of 1 percent in power generation and 2 percent in non-power industrial uses.
Coal demand fell faster than previously expected in the first half of this year in the United States (24 percent) and the European Union (16 percent).
However, demand from the two largest consumers, China and India, grew by over 5 percent during the first half, more than offsetting declines elsewhere.
The report indicated that China and India may account for nearly 70 percent of the world's coal consumption in 2023. By contrast, the United States and the European Union represent less than 10 percent.
Source: Qatar News Agency