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UPDATE 1-Global coal demand to match record high this year, IEA says

UPDATE 1-Global coal demand to match record high this year, IEA says

Reuters · 07/28/2022 06:01
UPDATE 1-Global coal demand to match record high this year, IEA says

Updates with more detail

By Nina Chestney

- Global coal demand is set to rise slightly this year to match a record high reached 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 year to an all-time high.

Global coal demand is being propped up this year by rising gas prices, which have increased gas-to-coal switching in many countries, as well as economic growth in India, the report said.


(Reporting by Nina Chestney; editing by David Goodman and Jason Neely)

((.chestney@thomsonreuters.com; +44 (0) 020 7513 5674; Reuters Messaging: .chestney.thomsonreuters.com@reuters.; Twitter: https://twitter.com/NinaChestney))