APEC members account for 3/4 of global coal consumption: APERC & IEEJ
Asia-Pacific Economic Cooperation (APEC) member economies were responsible for nearly 75 percent of the world’s consumption of coal in 2016, according to a new report by the Asia Pacific Energy Research Centre (APERC) and The Institute of Energy Economics, Japan (IEEJ). Coal continues to rule in the APEC region, accounting for more than half of its electricity generation.
Coal demand in the region has grown over 30 percent in the last decade, from 2,274 Mtoe (in 2005) to 2,897 (in 2015), averaging 2.5 percent every year. Economies undergoing rapid growth such as China, India, and those in Southeast Asia have been key contributors to demand growth.
The APEC region produces enough coal to meet its demand, with 98 percent of the region’s coal demand met by five economies alone: China (59 percent), USA (14 percent), Australia (10 percent), Indonesia (8.7 percent), and Russia (6.4 percent).
More key predictions:
- Global demand for thermal coal is expected to continue edging upwards, boosted by growing power demand and the operation of coal-fired power plants in emerging regions such as South and Southeast Asia.
- China’s coal demand and production are predicted to fall as the government rolls out policies to curb coal consumption and production in its shift towards energy efficiency and sustainability. However, coal imports are expected to remain level, depending on domestic supply and demand adjustments.
- Indonesia’s coal exports, currently the largest in the world, are expected to wane as the government adopts measures to control production (to 400 million tonnes in 2019).
For more key trends and predictions on coal in the APEC region, please download the full report here.
Credit: Asia Pacific Energy Research Centre (APERC) and The Institute of Energy Economics, Japan (IEEJ)
* Mtoe: Million Tonnes Of Oil Equivalent