Global coal consumption is set to rise to an all-time high this year and remain at similar levels in the next few years if stronger efforts are not made to move to a low-carbon economy, a report by the International Energy Agency (IEA) said yesterday.
High gas prices following Russia’s invasion of Ukraine and consequent disruptions to supply have led some countries to turn to relatively cheaper coal, while heat waves and droughts in some regions have also driven up electricity demand and reduced hydropower. Nuclear generation has also been very weak, especially in Europe, where France had to shut down nuclear reactors for maintenance.
The annual report on coal forecasts that global coal use is to rise 1.2 percent this year, exceeding 8 billion tonnes in a single year for the first time and a previous record set in 2013.
Photo: Reuters
It also predicts that coal consumption would remain flat at that level to 2025, as falls in mature markets are offset by continued strong demand in emerging Asian economies.
This means coal would continue to be the global energy system’s largest single source of carbon emissions.
The largest increase in coal demand is expected to be in India, at 7 percent, followed by the EU at 6 percent and China at 0.4 percent.
Photo: AFP
“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,” IEA energy markets and security director Keisuke Sadamori said.
Europe’s coal demand has risen due to more switching from gas to coal due to high gas prices and as Russian gas has reduced to a trickle.
However, by 2025 European coal demand is expected to decline below this year’s level, the report said.
Global coal-fired power generation is set to rise to a new record of about 10.3 terawatt hours this year, while coal production is forecast to rise 5.4 percent to about 8.3 billion tonnes, also an all-time high.
Production is expected to reach a peak next year, but by 2025 it should fall to below this year’s level.
The three largest coal producers — China, India and Indonesia — would this year hit production records, but despite high prices and comfortable margins for coal producers, there is no sign of surging investment in export-driven coal projects.
This reflects caution among investors and mining companies about the medium and longer-term prospects for coal, the report said.
JITTERS: Nexperia has a 20 percent market share for chips powering simpler features such as window controls, and changing supply chains could take years European carmakers are looking into ways to scratch components made with parts from China, spooked by deepening geopolitical spats playing out through chipmaker Nexperia BV and Beijing’s export controls on rare earths. To protect operations from trade ructions, several automakers are pushing major suppliers to find permanent alternatives to Chinese semiconductors, people familiar with the matter said. The industry is considering broader changes to its supply chain to adapt to shifting geopolitics, Europe’s main suppliers lobby CLEPA head Matthias Zink said. “We had some indications already — questions like: ‘How can you supply me without this dependency on China?’” Zink, who also
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) received about NT$147 billion (US$4.71 billion) in subsidies from the US, Japanese, German and Chinese governments over the past two years for its global expansion. Financial data compiled by the world’s largest contract chipmaker showed the company secured NT$4.77 billion in subsidies from the governments in the third quarter, bringing the total for the first three quarters of the year to about NT$71.9 billion. Along with the NT$75.16 billion in financial aid TSMC received last year, the chipmaker obtained NT$147 billion in subsidies in almost two years, the data showed. The subsidies received by its subsidiaries —
At least US$50 million for the freedom of an Emirati sheikh: That is the king’s ransom paid two weeks ago to militants linked to al-Qaeda who are pushing to topple the Malian government and impose Islamic law. Alongside a crippling fuel blockade, the Group for the Support of Islam and Muslims (JNIM) has made kidnapping wealthy foreigners for a ransom a pillar of its strategy of “economic jihad.” Its goal: Oust the junta, which has struggled to contain Mali’s decade-long insurgency since taking power following back-to-back coups in 2020 and 2021, by scaring away investors and paralyzing the west African country’s economy.
RE100 INITIATIVE: Exporters need sufficient supplies of renewable energy to meet their global commitments and remain competitive, the economics ministry said Local export-oriented manufacturers, including Taiwan Semiconductor Manufacturing Co (台積電), require sufficient supplies of green energy to maintain their competitiveness and regulations already ensure that renewable energy development adheres to environmental protection principles, the Ministry of Economic Affairs said yesterday, as the legislature imposed further restrictions on solar panel installations. The opposition-led Legislative Yuan yesterday passed third readings to proposed amendments to three acts — the Environmental Impact Assessment Act (環境影響評估法), the Act for the Development of Tourism (發展觀光條例) and the Geology Act (地質法) — which would largely prohibit the construction of solar panels in some areas. The amendments stipulate that ground-mounted solar
RSS