The Strategist

IEA: 2022 will be a record year for global coal consumption

12/19/2022 - 08:52

Global coal consumption is up 1.2% this year compared to 2021, setting a new record.

According to the International Energy Agency (IEA) report, more than 8 billion metric tonnes of coal were used globally in a single year, which is the record. The previous global coal consumption record was set in 2013.

The figure is expected to "remain at roughly the same level in the coming years, given the lack of greater efforts to accelerate the clean energy transition," according to the agency.

The IEA notes that China is still the world's largest consumer of coal. And the world's three largest coal producers, China, India, and Indonesia, will set new production records this year. According to the agency, rising natural gas prices in the midst of the global energy crisis have increased demand for coal for power generation. Slowing economic growth, on the other hand, has reduced demand for electricity and industrial output.