BAKU, Azerbaijan, December 20. China and India turned out to be the world’s largest coal consumers, the biggest producers of coal, and, in addition, the top two coal importers in 2022, the International Energy Agency (IEA) said, Trend reports via the IEA's latest update on the coal market.
"In response to price rises and supply shortages, China and, to a lesser extent, India, pushed up domestic coal production after summer 2021," the report said.
According to the agency, in March 2022, Chinese coal production reached a new monthly high and now is forecast to rise to a new annual record, with expected growth of 8 percent for the whole 2022, eliminating the need for imports and replenishing stocks.
"In India, the government has tried to increase production for a long time to reduce imports. In 2021, coal production reached 800 million tons for the first time," the report noted.
Thus, the IEA forecasts India’s coal production to surpass 1 billion tons by 2025.
"Indonesia, the world’s third-largest producer, is also expected to expand production to reach a new high in 2022, with exports playing a more important role than domestic demand," the agency noted.
Meanwhile, with minor growth in the US and even in Europe, global coal production is projected to rise above 8 billion tons in 2022 - its highest level ever.