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hatrack

(59,439 posts)
Fri Jun 28, 2013, 10:42 AM Jun 2013

India On Track To Become Worlds #1 Coal Burner; Domestic Natgas Production Falling Rapidly

India is burning coal in power plants at the fastest pace in 31 years. At the same time, domestic supplies of natural gas that are the main alternative are falling at the quickest rate in Asia, data from 2012 compiled by BP Plc (BP/) show. Both trends run counter to those in most major economies and give India clout over global coal prices.

ndia’s growing appetite for imported coal should benefit suppliers in the $69 billion global coal trade such as BHP Billiton Ltd. (BHP) (BHP) and Indonesia’s PT Adaro Energy (ADRO). India is set to eclipse China as the top importer of power station coal by 2014, as China burned the fuel in 2012 at the slowest pace since 2008, and U.S. demand fell for a second year, according to Energy Aspects Ltd.

“India is increasingly becoming an important swing factor in the coal markets and exporters will look there for price support as Chinese imports slow,” said Michael Parker, a Hong Kong-based analyst at Sanford C. Bernstein & Co. “Chinese imports will start to fall as they use more of their own coal.” As Asia’s second-biggest energy consumer, with an economy expanding 5 percent last year, India used 10.2 percent more coal from a year earlier. That was the sharpest rise since 1981 and reversed three years of slower gains, according to this month’s BP Statistical Review 2013.

EDIT

http://www.bloomberg.com/news/2013-06-27/india-to-eclipse-china-as-world-s-coal-power-buoying-bhp.html

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India On Track To Become Worlds #1 Coal Burner; Domestic Natgas Production Falling Rapidly (Original Post) hatrack Jun 2013 OP
But I was assured on here a year or two ago... GliderGuider Jun 2013 #1
I'm certain we're just a few Friedman Units from a renewable revolution in the subcontinent! hatrack Jun 2013 #2
 

GliderGuider

(21,088 posts)
1. But I was assured on here a year or two ago...
Fri Jun 28, 2013, 01:14 PM
Jun 2013

that Tata was switching entirely to wind power! That India's renewable resource wasn't just people any more!

What happened?

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