Global coal demand is expected to increase by 1.4% compared to last year and reach 8.54 billion tons in 2023. This forecast is new by the International Energy Agency (IEA). report.
At the same time, consumption in the United States and the European Union will decrease by 21% and 24%, respectively. However, increased demand in China, India and other developing countries will offset this decline.
The IEA believes Asian countries will increase coal use in the foreseeable future despite their climate commitments.
According to the agency, China will play a key role in determining the future of the global coal market. Global coal demand is expected to decrease by approximately 2% by 2026 due to China’s transition to renewable energy sources.
At the beginning of December, French President Emmanuel Macron made a call to G7 countries to reject Stop using coal by 2030. Macron expressed that he is sure that if the richest countries are the first to stop using coal, everyone else will follow their example.
Previously Russia guess decrease in coal production.