Global coal consumption to reach new record

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Rising natural gas prices wrought by the Iran war will boost global coal consumption to a new record of nearly 9 billion metric tons this year, the International Energy Agency reported. China remains by far the world’s coal heavyweight: Its power sector alone consumes one-third of the world’s coal. Yet although China and India both saw rising demand this year, “for the first time in 50 years, both countries generated less electricity from coal than the year before,” the IEA reported.
In the US, where natural gas remains very inexpensive, coal demand is expected to drop 7% this year, reversing gains from 2025. As for whether coal will reach a new peak next year, the report says, it all depends on the resumption of LNG trade out of the Persian Gulf.

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