LONDON: Global coal demand growth will slow over the coming five years, as growth in Turkey, Korea and Japan will not be enough to offset falls in Europe and the United States, the International Energy Agency (IEA) said on Monday.

The IEA forecasts annual global coal demand growth at 2.1 per cent through to 2019, down from a 2010-2013 annual growth rate of 3.3pc.

The outlook for China, the world’s largest coal consumer and importer, was uncertain due to a policy shift towards diversifying the country’s energy supply, the IEA said in its medium-term coal market report.

“The world’s biggest coal user, producer and importer has embarked on a campaign to diversify its energy supply and reduce its energy intensity, and the resulting increase in gas, nuclear and renewables will be staggering,” the IEA said.

Chinese coal consumption was not expected to peak during the outlook period, the IEA said, forecasting annual demand growth to 2019 at 2.6pc.—Reuters