December 17, 2022
Skyrocketing gas prices was the key factor for surging coal demand, an annual study by the IEA has shown
The global energy crisis entailed by surging natural gas prices pushed coal use to a ten-year high this year, according to a report from the International Energy Agency (IEA) released on Friday.
Global coal consumption is expected to rise by 1.2 % in 2022 and will exceed 8 billion tons in a single year for the first time ever, beating the previous record set in 2013. Coal used in power generation, the largest consuming sector, is forecast to grow by 2% this year.
At the same time, the IEA expects industrial coal consumption to decrease by more than 1% in 2022 due to a slump in iron and steel production triggered by the economic downturn.
The report also indicated that if the energy transition to renewables is not accelerated coal consumption is likely to remain flat at current levels through 2025.
This article was originally published by RT.
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