India to become world’s largest coal importer in 5 years

India is likely to be the second largest consumer of coal, surpassing the United States, in the next five years, says a report.

India is likely to be the second largest consumer of coal, surpassing the United States, in the next five years, says a report.

HT Image

“China and India would lead the growth in coal consumption over the next five years...while India will become the largest seaborne coal importer and second-largest consumer, surpassing the United States,” according to a report by International Energy Agency (IEA).

The report further said that coal demand is expected to increase in every region of the world except in the US, where coal is being pushed out by natural gas.

“In fact, the world will burn around 1.2 billion more tonnes of coal per year by 2017 compared to today — equivalent to the current coal consumption of Russia and US combined.

“Coal’s share of the global energy mix continues to grow each year, and if no changes are made to current policies, coal will catch oil within a decade,” according to IEA executive director Maria van der Hoeven.

The IEA report on coal found that even countries which have committed themselves to reducing carbon emissions are finding it difficult to resist the renewed allure of coal.

A number of European countries have seen their use of coal for electricity consumption jump at the beginning of this year, including by 65% in Spain, 35% in Britain and 8% in Germany.

India’s projected demand of coal in the current fiscal is 772 million tonnes, as against target production of 578 MT, leaving a gap of 194.7 MT.

The IEA is an autonomous organisation which works to ensure reliable, affordable and clean energy for its members.