Coal will continue to play an important role as an energy commodity in the coming years, with worldwide demand only likely to peak in 2020, Mr Philip Lowe the European Commission’s director general for energy said that “Although oil remains the most important commodity, coal is still crucial, accounting for 14% of European power generation and 42% of worldwide energy consumption.”
Mr Lowe at a McCloskey coal conference in London. Worldwide demand for coal would peak by 2020, returning to 2003 levels by 2035. He added that although there was a degree of optimism about global prospects for carbon capture and storage, infrastructure and technology developments provided a significant challenge.
Mr Lowe said that beyond 2035, CCS was vital for the survival of the coal industry. He added that “We would have to build 4,300 CCS plants worldwide to achieve global emissions targets. If this were possible, it would be the most efficient way to meet these goals.”
Mr Lowe said that challenges to CCS included raising public awareness, with just 3% of European citizens aware of the concept adding that European heads of states were more interested in focusing on oil, gas and renewables.
(Source: www.steelguru.com )