Coal remains world's fastest growing fossil fuel: BP review
London (Platts)--12Jun2013/711 am EDT/1111 GMT
Coal remained the world's fastest-growing fossil fuel in 2012, despite the rate of consumption slipping below the 10-year average of 4.4% during the year, according to the BP 2013 Statistical Review of World Energy released Wednesday.
Total global coal consumption in 2012 rose 2.5% on the year to 3.73 billion mt of oil equivalent.
The Asia-Pacific region accounted for 69.9% of global coal consumption in 2012, burning 2.61 billion mt of oil equivalent.
Despite China's coal consumption growth rate falling to a below-average 6.1%, the country still accounted for all of the net growth in coal burn and accounted for more than half of global coal consumption (50.2 %) for the first time, BP said.
Total US coal consumption continued to fall, decreasing by 11.9% on-year to 437.8 million mt of oil equivalent.
In Europe -- where low-priced thermal coal continues to displace gas in the merit order -- coal burn increased by 2.2% on the year to 516.9 million mt, representing 13.9% of overall global consumption.
Global coal production grew by 2% to 3.85 billion mt of oil equivalent with the Asia Pacific region accounting for all of the net increase and for more than two-thirds of current global output, the report said.
US coal production -- which has been impacted by the rise to prominence of shale gas and consequent lower domestic natural gas prices -- declined by 7.5% over the year to 515.9 mill