IEA: coal’s share of the market grew, however, real consumption falls

LONDON, 10 Nov. Denis Voroshilov. The share of coal in the world market in recent years has increased, however, real consumption falls, according to the report World Energy Outlook, annually prepared by the International energy Agency (IEA).

“The share of coal in the global energy sector has increased from 23% in 2000 to 29 percent today, but the momentum of the surge is fading. The expectations of the industry in a strong consumption growth, particularly in China, led to significant investment in recent years. However, the real coal consumption declined significantly, leading to overcapacity and falling prices,” — said in the report.

The authors note that in countries of the Organization for economic cooperation and development (OECD) will continue falling demand for coal, primarily because of their energy policy.

“It is projected that consumption in OECD countries will fall by 40% by 2040. Coal consumption in the EU will fall by a third from current levels. The main market for producers of coal will remain China… By the year 2040, Asia, as we expect, will consume four fifths of the total consumption of coal in the world”, — the document says.