Saturday, December 17, 2022 at 1:19 PM
According to the International Energy Agency, (IEA), global coal consumption will reach an all-time high in 2018 and will remain flat through 2025.
According to the Paris-based Climate Agency, global coal consumption will increase by 1.2 percent this Year, surpassing 8 billion tons in a single year.
Global power generation from coal will reach a new high of 10.3 TWh this coming year.
Meanwhile, coal production is expected increase by 5.4 percent, to 8.3 billion tonnes, which is also an all-time high.
It expects that coal consumption will remain high for the next three-years, with declining demand in mature markets being offset by strong demand from emerging Asian economies.
Some countries have been forced to purchase relatively cheaper coal due to rising gas prices following Russia’s invasion Ukraine.
India (seven%) is expected to experience the greatest increase in coal demand. Meanwhile, the European Union has increased its coal consumption by six percent in order to move away from Russia’s fossil fuel.
“The world is close to peak fossil fuel use, with coal set to be the first to fall, but we are not there yet,” said Keisuke Sadamori, director of energy markets and security at the International Energy Agency.
“Coal demand in Europe has increased due to more shifting to gas to coal because of higher gas prices and slightly lower Russian gas prices.”
Production is expected to peak next, but it should drop below 2022 levels by 2025.
Source link
[Denial of responsibility! wideworldmag.co.uk is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – at wideworldmag.co.uk The content will be deleted within 24 hours.]
