Asia Minute: There’s coal in 2022's year-end global stocking
This year is likely to turn out as the biggest year for coal consumption in the history of the world.
That word comes from the International Energy Agency —which expects coal consumption to surpass 8 billion tons, shattering the record set in 2013.
The IEA's director of energy markets said in a news release that coal use is likely to stay high next year and in 2024.
Kei Sadamori said demand for coal will grow in India, China and Southeast Asia.
He added that the world is close to a peak in fossil fuel use, but “we are not there yet.”
Disruption in natural gas supplies sparked by Russia's invasion of Ukraine is one factor pushing coal production higher.
The three largest coal producers in the world are all in Asia: China, India and Indonesia.
The IEA said each country is expected to set a production record for coal this year.
Just last week, China reported its daily coal production set an all-time record in November with more than 13 million tons a day — with overall production up nearly 10% compared to a year ago.
The IES does say the deployment of renewable energy is accelerating around the world, which in coming years will “moderate” demand for coal.