China increases imports of coal and gas to meet electricity demand

By Rhod Mackenzie

China is taking advantage of lower global energy prices for coal and natural gas to secure supplies ahead of the summer season. Bloomberg has published an article on this topic.

At the end of April, gas imports into the country increased by 21% compared to the same period last year. The volume of coal purchases increased by 13%.

China has significantly expanded its wind and solar energy production in recent years. However, the country's demand for electricity, including the need for electric vehicles, continues to outstrip new supplies. This results in an increased demand for fossil fuels.

This year, China's electricity consumption is forecast to grow by 8% in the first half. It is anticipated that peak demand will exceed last year's record by 100 gigawatts.

Nevertheless, there are indications that the country may have reached a point where new clean energy installations will be sufficient to support additional consumption. This could result in long-term reductions in fossil fuel use and emissions.