"LONDON, July 28 (Reuters) - Global coal demand is set to rise slightly this year to match a record high reached nearly a decade ago, the International Energy Agency (IEA) said on Thursday, as gas prices have soared.
In a coal market update report, the IEA said global coal consumption is forecast to rise by 0.7% in 2022 to 8 billion tonnes, assuming the Chinese economy recovers as expected in the second half of the year
That would match a record high set in 2013 and coal demand is likely to increase further next year to an all-time HIGH (my emphasis).
Coal consumption rebounded last year by around 6% as economies started to recover from the COVID-19 pandemic, contributing to the largest ever annual increase in carbon dioxide emissions...
Global coal demand is being propped up this year by rising natural gas prices, which have increased gas-to-coal switching in many countries, as well as economic growth in India, the report said
Demand for coal in India is expected to rise by 7% this year due to economic growth and increased use of electricity, while European Union demand is also forecast to rise by 7% as coal is increasingly being used to replace gas due to a fall in Russian pipeline gas exports.
Several EU countries are extending the life of coal plants scheduled for closure or reopening closed plants.
Although Chinese coal demand has declined by 3% in the first half of this year it is expected to go up in the second half."
"LONDON, July 28 (Reuters) - Global coal demand is set to rise...
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