Global coal demand projected to reach record high in 2026

The International Energy Agency (IEA) projects that global coal consumption will reach a record 8,940 million metric tons in 2026. This projection marks a significant shift from previous forecasts that anticipated a decline in demand.

Energy crises, specifically those stemming from geopolitical tensions in the Strait of Hormuz, have driven countries to use coal as an emergency substitute for oil and gas. Experts note that as gas supplies fluctuate, coal demand rises to fill the gap.

In Colombia, the coal sector faces challenges due to domestic policies that have discouraged extractive activities. This has led to a reduction in exports and a decline in the sector's contribution to the national GDP, which fell from 4% to 3.5%. Despite global energy transition efforts, coal remains critical for industrial processes that are difficult to electrify, such as steel and cement manufacturing, and continues to play a vital role in maintaining electrical grid stability in certain regions.