In its report, OUEHA pointed out that global coal demand is expected to reach an all-time high of 8.71 billion tonnes in
2024 For the next few years, it would be better to forget about leaving coal, the dirtiest fuel, a major contributor to climate change, in the pages of history. Global coal demand is expected to reach an all-time high this year in 2024, a new study suggests.
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The International Energy Agency (IEA) has pointed out in its research report this year that total global coal demand is expected to reach an all-time high of 8.71 billion tonnes in 2024. The main factor behind this year’s 1 percent increase in coal demand was a strong increase in global energy demand, compared with 8.68 billion tonnes last year.
Though coal is described as an obsolete fuel, the study notes that in fact, global coal consumption has doubled in the past 30 years. Not only that, but the demand for coal is expected to continue to grow in the foreseeable near future. The OECD predicts that demand for coal will increase at a rapid pace from 2025 to 2027, and will continue to update its historical peak every year. The ongoing energy transition around the world means electrifying everything, in a sense. Renewable energy may be the source of the energy it needs, but for now, coal, a fuel that has stood the test of time, is unlikely to be the main option, writes Bloomberg columnist Javier Blas.
By 2024, the total energy produced from fossil fuels worldwide is expected to reach 10,700 terawatts/hour, which is also an all-time high.
China’s Inexhaustible Demand
Leading the way in electric vehicles, wind turbines, and solar panels, as well as being the world’s leader in pollution, BNHAU has become a major force driving coal demand. The country alone consumed 4.8 billion tonnes of coal, accounting for 56 per cent of the world’s total coal demand in 2023. But this year, OECD expects demand to grow by 56 million tonnes, or 1.1 percent.
And he was stunned.
In addition, India’s demand for coal, which consumed 1.2 billion tonnes in 2023, is expected to grow by 70 million tonnes this year In its study, OUEHA also includes the market outlook for coking coal used in steel industry. Last year, 3/4 of the total coal traded was energy coal, and the remainder was metallurgical or coking coal. But this year, the total coal trade is estimated at 1.5 billion tonnes, while coking coal trade is expected to rise by 18 million tonnes to 368 million tonnes.
Source: bloombergtv.mn 2024.12.19