Global coal demand is expected to reach an all-time high this year during the energy crisis sparked by Russia’s invasion of Ukraine, according to the International Energy Agency (IEA).
The world’s coal consumption will remain at similar levels in the coming years in the absence of stronger efforts to boost the transition to clean energy, the Paris-based agency said in its Coal 2022 report.
Several countries have resumed or expanded the use of coal for power generation when faced with high natural gas prices and global competition for liquefied natural gas (LNG) shipments.
“The world is close to a peak in fossil fuel use, with coal set to be the first to decline, but we are not there yet,” said Keisuke Sadamori, the IEA’s director of energy markets and security.
“At the same time, there are many signs that today’s crisis is accelerating the deployment of renewables, energy efficiency, and heat pumps and this will moderate coal demand in the coming years.”
Global coal use is on track to rise by 1.2 per cent in 2022, exceeding eight billion tonnes in a single year for the first time and breaking a previous record set nine years ago.
Coal consumption will remain at this level through 2025 as a decline in developed economies is offset by robust demand in Asia, the IEA said.
In China, the world’s largest coal consumer, a heatwave and drought pushed up coal power generation during the summer, even as strict Covid-19 restrictions slowed demand.
Europe, which has been hit hard by Russia’s sharp reductions in the supply of natural gas, is on course to increase its coal consumption for the second year in a row, the report said.
By 2025, the continent’s coal demand is expected to fall below 2020 levels.
“Despite high prices and comfortable margins for coal producers, there is no sign of surging investment in export-driven coal projects,” the IEA said.
“This reflects caution among investors and mining companies about the medium and longer-term prospects for coal.”
Meanwhile, global renewable power capacity growth is on track to nearly double in the next five years, overtaking coal as the largest source of electricity generation, the IEA said in a report this month.
Renewable power capacity is expected to grow by 2,400 gigawatts by 2027, equivalent to the current power capacity of China, the world’s second-largest economy.
Developing economies in Asia are expected to increase coal use to drive economic growth even as they invest more in renewables.
“Developments in China will have the biggest impact on global coal demand in the coming years, but India will also be significant,” the agency said.
The IEA had previously said that emissions from existing coal assets would be enough to tip the world over the 1.5°C limit.
The world must move quickly to reduce carbon dioxide emissions from coal to avoid severe climate change, said the agency in a report last month.
It called for immediate policy action to mobilise financing for clean energy alternatives.
Company name: Farmin
Date started: March 2019
Founder: Dr Ali Al Hammadi
Based: Abu Dhabi
Sector: AgriTech
Initial investment: None to date
Partners/Incubators: UAE Space Agency/Krypto Labs
if you go
The flights
Etihad and Emirates fly direct from the UAE to Seoul from Dh3,775 return, including taxes
The package
Ski Safari offers a seven-night ski package to Korea, including five nights at the Dragon Valley Hotel in Yongpyong and two nights at Seoul CenterMark hotel, from £720 (Dh3,488) per person, including transfers, based on two travelling in January
The info
Visit www.gokorea.co.uk
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Engine: 3.0-litre flat-six twin-turbocharged
Transmission: eight-speed PDK automatic
Power: 445bhp
Torque: 530Nm
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In-demand jobs and monthly salaries
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- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
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You may remember …
Robbie Keane (Atletico de Kolkata) The Irish striker is, along with his former Spurs teammate Dimitar Berbatov, the headline figure in this season’s ISL, having joined defending champions ATK. His grand entrance after arrival from Major League Soccer in the US will be delayed by three games, though, due to a knee injury.
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Andre Bikey (Jamshedpur) The Cameroonian defender is onto the 17th club of a career has taken him to Spain, Portugal, Russia, the UK, Greece, and now India. He is still only 32, so there is plenty of time to add to that tally, too. Scored goals against Liverpool and Chelsea during his time with Reading in England.
Emiliano Alfaro (Pune City) The Uruguayan striker has played for Liverpool – the Montevideo one, rather than the better-known side in England – and Lazio in Italy. He was prolific for a season at Al Wasl in the Arabian Gulf League in 2012/13. He returned for one season with Fujairah, whom he left to join Pune.
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
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Kill%20Bill%20Volume%201
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The%C2%A0specs%20
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The biog
Born: near Sialkot, Pakistan, 1981
Profession: Driver
Family: wife, son (11), daughter (8)
Favourite drink: chai karak
Favourite place in Dubai: The neighbourhood of Khawaneej. “When I see the old houses over there, near the date palms, I can be reminded of my old times. If I don’t go down I cannot recall my old times.”
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
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