IEA: coal demand to increase to 2023

IEA: coal demand to increase to 2023

A new report has found that global demand for coal will creep higher through to 2023 with growth from Asia leading the trend.

The International Energy Agency (IEA) said consumption of coal will rise by an average of 0.2pc each year to reach 5,418 million tonnes of coal equivalent (Mtce) in 2023.

The report comes just days after the UN’s climate talks, where coal had a significant presence, not just in the mining region where it was held but also during key events such as the opening ceremony.

On the first day of the two week-long event, President Andrzej Duda said: “We have been able to secure energy security and the development of industry based on efficient coal technologies.

“The use of our own natural resource, that is coal in the case of Poland, and relying our energy security on these resources is thus not contradictory to climate protection and to the progress of climate protection.”

Coal remains to be one of the largest sources of primary energy, behind only oil, and is the second biggest source of electricity around the world.

“Despite significant media attention being given to divestments and moves away from coal, market trends are proving resistant to change,” the report said.

Demand for coal is expected to be driven by India, where demand will increase from 146 Mtce to 708 Mtce in 2023, supported by higher coal-fired power output and steel production, according to the IEA.

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