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Coal 2025 Trade
…country in history, followed by India (237 Mt) and Japan (162 Mt). Together, these three countries represented over 60% of global coal imports. On the export side, Indonesia remained the top exporter with 555 Mt, primarily thermal coal, followed by Australia (363 Mt) and Russia (198 Mt), which directed 75% of its exports to Asia in 2024. Combined, these three countries accounted for nearly 74% of global coal exports in 2024.After years of growth, global coal trade is expected to decline by 5% to 1 468 Mt in 2025, reversing the previous upward trend. Thermal coal trade is set to decrease by 6% to 1 111 Mt, while met coal…
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- Demand
- Supply
- Trade
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Coal 2025 Investments in coal projects and emissions abatement
…As a result, the net growth of the more-advanced pipeline amounts to 101 Mtpa.In terms of annual tonnage capacity, the projects are concentrated in Australia (58%), followed by Russia (13%) and Indonesia (8%). Due to the still limited transparency in some countries, these figures should be interpreted with caution.Some trends observed last year have continued. In Russia producers are advancing infrastructure development in the Far East to support specific coal projects. In Africa there is renewed interest in projects in Mozambique. Australia is progressing with met coal developments, while market conditions have driven the sale of several assets…
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Unlocking Ukraine’s Hydrogen Opportunity: A Roadmap Executive summary
…of capital is the most important hurdle for hydrogen projects. Low-emissions hydrogen is a nascent sector, and scale-up faces barriers including the need to find off-takers to secure finance, the cost gap in comparison to production from unabated fossil fuels, and infrastructure availability in certain locations. In Ukraine, however, country risk determines the overall cost of capital. Even before Russia’s full-scale invasion, the cost of capital was already above 12% for renewables, and even higher for hydrogen projects given the sector-specific risks. The country has already defaulted on its international debt and its gov...
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Global Methane Tracker 2025 Accelerating industry action
…for cost-effective abatement. We estimate that around 25 Mt of methane emissions from upstream operations (40% of all upstream oil and gas methane emissions worldwide) could have been avoided at no net cost in 2024. Well over 15 Mt of emissions could have been avoided through measures with internal rates of return exceeding 25% – well above the thresholds that oil and gas companies typically require for capital investment. Methane plume from a flare in Russia, 2024 The global average methane intensity of upstream oil and gas has fallen by around 10% since 2019. Yet despite this progress, emissions intensities still…
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World Energy Investment 2025 Executive summary
…not only by climate policies. Some 70% of the increased spending came from net fossil fuel importers. This was led by China’s drive to reduce reliance on oil and gas imports and exert leadership in new technology areas; Europe’s push to accelerate spending on renewables and efficiency gains after Russia’s full-scale invasion of Ukraine and the consequent cut to pipeline gas deliveries; and a pick-up in spending on solar in India. Another 20% of the increase came from the United States, where supportive policies were motivated in part by the desire to challenge China’s…
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Coal Mid-Year Update 2025 Trade
…Russia’s thermal coal trade faced headwinds. Western sanctions, logistical disruptions, and declining profitability contributed to a significant decline in Russian thermal coal exports.Global trade in metallurgical coal reached an all-time high of 369 Mt in 2024, supported by strong demand from key steel-producing countries in Asia. Australia, the world’s largest exporter of metallurgical coal, maintained stable export volumes at 153 Mt. Mongolia, the second-largest exporter, recorded a 5% increase, reaching 56 Mt, with all volumes directed to the Chinese market. The United States and Russia increased exports by 11% each to 52 Mt and to…
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Sustainable Transport Policy for Armenia: A Roadmap Sustainable transport in Armenia
…are about 380 CNG filling stations across Armenia, all of which are privately owned. Since 2015, there has been a significant increase in the use of liquid petroleum gas (LPG), which is more affordable than petrol. Armenia has made substantial progress in transport electrification. Its 782-km railway network (operated by South Caucasus Railway, a subsidiary of Russian Railways) is fully electrified at 3 kV DC. Armenia’s rail network is largely domestic, however, with international connections extremely limited. Rail links were severed with neighbouring countries – with the exception of Georgia – in the early 1990s.Aviation fuel demand is current...
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Ukraine’s Energy Security As Ukraine heads into another heating season, six measures can help improve energy security
…infrastructure such as substations and autotransformers. These measures, combined with air defence, have successfully repelled some recent attacks. However, further investment remains necessary as Russia continues to update its attack strategies and increase the number of drones and missiles deployed.Efforts to optimise supply chains for key energy equipment also remain crucial, as regular attacks increase the need for frequent repairs and repurposed parts tend to wear down faster. The logistics around commissioning and shipping crucial spare parts, vehicles and equipment remain cumbersome due to administrative and regulatory bottlenecks, equipment compatibility issues and funding gaps. Given the ongoing importance of…
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Gas 2025 Executive summary
…subdued in Asia and declined in Eurasia.Tighter market fundamentals have contributed to higher gas prices in key import markets, weighing on natural gas consumption, especially in price-sensitive Asian markets. While global LNG supply increased by more than 5% year-on-year in the first nine months of 2025, this growth was partially offset by lower piped gas supplies to Europe from Russia and Norway. Stronger storage injection needs in Europe further tightened markets.For the full year of 2025, global gas demand growth is forecast to slow from 2.8% in 2024 to below 1% in 2025. Demand...
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World Energy Outlook 2025 Regional insights
…different countries and regions. It also includes a deep dive into a pertinent topic for each region. For the United States, Latin America and Africa, we explore themes that focus on the development of domestic resources. For India, Southeast Asia and the Middle East, we explore the strategies and policies being deployed to manage energy demand growth in ways that are aligned with country and regional priorities. For the European Union, Japan and Korea, we explore themes of competitiveness and energy security. We also explore the future of coal demand in China, and prospects for natural gas exports from Russia.
