BAKU, Azerbaijan, December 19. According to the International Energy Agency (IEA), China’s coal production reached a new all-time high in 2023, growing by 3.4% year-on-year to 4,610 million tons (Mt), Trend reports.
This marks a continued effort by China to avoid the coal shortages experienced in 2021. While production grew, the pace slowed compared to the previous year, as safety checks and temporary mine closures impacted output.
In 2024, the IEA forecasts a slight increase of 1% in China’s coal production, reaching 4,653 Mt. Despite a 3% dip in the first five months of 2024, the trend reversed in June, with production increasing by 3.9%. The third quarter saw a significant 4.2% growth, as miners ramped up production ahead of the winter heating season.
The IEA projects that China’s coal production will surpass demand in 2024, with a surplus of over 5.2 billion tons, compared to a forecasted demand of just over 4.9 billion tons. This surplus trend is expected to persist through 2027, as demand remains largely flat.
To ensure long-term energy security, China is planning a domestic coal reserve system by 2027. The system, with a target of 300 Mt of annual production capacity by 2030, will help stabilize prices and guarantee a steady supply to power plants, mitigating risks from disruptions like trade imbalances. The IEA notes that China is also balancing domestic production with coal imports to meet demand, with over 1.2 billion tons of coal arriving at coastal ports annually.
Looking ahead, China’s coal production is expected to remain steady throughout 2027, as the country strengthens its energy strategy to ensure stability in supply and prices.