Global coal consumption is set to rise slightly this year up to the equivalent of the record high it reached nearly a decade ago, according to an International Energy Agency (IEA) report published Thursday.
According to the IEA's Coal Market Update – July 2022, coal consumption in the European Union is expected to rise by 7% in 2022 on top of last year’s 14% jump.
The IEA predicts based on current economic and market trends that coal consumption globally will also rise by 0.7% in 2022 to 8 billion tonnes, assuming the Chinese economy recovers as expected in the second half of the year.
According to the report, China and India together consume double the quantity of coal as the rest of the world combined, with China alone accounting for more than half of the world's demand.
'This global total would match the annual record set in 2013, and coal demand is likely to increase further next year to a new all-time high,' the report highlighted.
Worldwide coal consumption rebounded by about 6% in 2021 as the global economy recovered rapidly from the initial shock of the COVID-19 pandemic.
For many countries coal remains a key fuel for electricity generation and a range of industrial processes, although the burning of large amounts of coal is heightening climate concerns, as coal is the largest single source of energy-related CO2 emissions.
The IEA explained that the rise in consumption in the EU is being driven by demand from the electricity sector where coal is increasingly being used to replace gas, which is in short supply and has experienced huge price spikes following Russia’s invasion of Ukraine in February.
By Gulsen Cagatay
Anadolu Agency
energy@aa.com.tr