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IEA forecasts flat demand for coal during 2017-22

IEA forecasts flat demand for coal during 2017-22

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New Delhi – Global demand for coal will remain nearly flat between 2017-2022, the International Energy Agency (IEA) said today.

“Whole globally we expect to see almost like a decade of stagnation in coal demand. So we expect that overall global demand for coal will stay flat with some ups and down depending upon the year. But structurally, basically we see a kind of flat demand through the year 2022,” Keisuke Sadamori, Director, Energy Markets & Security, IEA said here.

At an interactive industry session, he said that the global demand for coal fell by 1.9 per cent in 2016 to 5,357 MTce (million tonnes of coal equivalent), as lower gas prices, a surge in renewables and energy efficiency improvements put a major dent on coal consumption.

“We expect stagnation in coal demand out to 2022 due to cost reductions of alternative sources of energy and policy choices of governments around the world,” he said.

In its annual coal report released today here, the IEA has forecast coal-fired power generation in India to increase by nearly 4 per cent per year through 2022, on the back of growing fleet of coal power plants and robust power demand. Further, the IEA has reduced its forecast for import of thermal coal in the light of various initiatives being taken by the government.

“With the government accelerating industrialisation and setting targets to provide power for all, consumption of power in India is set to grow significantly. Access to reliable and affordable electricity will be vital to meet this growth,” Vipul Tuli, CEO and Country Head, Sembcorp India said. A balanced mix of power from conventional and renewable sources is necessary to meet India?s growth and urbanisation needs, he said.

Source: PTI
Anand Gupta Editor - EQ Int'l Media Network

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