Engen hosts a strategic coal sector overview and discussion meeting

The energy debate has intensified in recent years as nations continue to strive for economic survival. Within this debate, fossil fuels, especially coal, have been vilified and written off in favour of renewables. I drew attention to this in my presentation during a strategic meeting hosted by Engen Petroleum.

I provided an overview of coal’s current and future role in the global energy mix. Energy consumption is likely to grow faster than advances in energy efficiency. Unfortunately, coal critics are not at all realistic about the escalating need for reliable power resources, especially for emerging economies in Africa and Asia.

Energy, as we know, is the life force for modern economies that are heavily reliant on electricity. According to data from Ember, coal generated more electricity than any other power source in 2023. Additionally, Statista projects that electricity generation worldwide could exceed 30,000 TWh by the year 2025, reaching 83,000 TWh in 2050.

Demand for coal in the West might be decreasing, but it is certainly showing strong growth elsewhere. The International Energy Agency forecasts growth in India and the ASEAN region will offset declines in Europe and the United States between 2024-2026. Asia is also a top destination for South Africa’s coal exports, accounting for more than 80% of the coal leaving our shores. Domestically, SA still relies on coal to supply more than 70% of its energy needs, signifying its importance.

View the presentation below: