EU is 'thirst' for wood pellets to replace gas
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- Business
- 23:43 30/08/2022
DNHN - The EU is the world's largest wood pellet consumption market, accounting for 75% of worldwide wood pellet demand in 2021, which is expected to reach 23.1 million tons. The record is anticipated to be broken again this year, with consumption increasing to 24.3 million tons.
In retaliation for European sanctions, the Russian government banned the export of some wood products, including pellets and logs, beginning in March 2022. Tablets shipped from Russia are now banned under this restriction. As a result of the restriction, the Russian market's supply of 2.4 million tons of exported tablets was fully cut off.
As a result, the global market for importing tablets, including the EU, must find an alternate supply.
Geopolitical tensions between European nations, lack of energy sources, and country vows to decrease greenhouse gas emissions are prerequisites for wood pellet exports to expand because this is regarded as bio-energy, emitting far fewer greenhouse gases than typical fossil fuels.
Businesses will be able to grow their shipments to the world's largest wood pellet market as a result of this.
The export markets, however, have numerous stringent criteria on the legality of the wood used in this product, which poses a hurdle for Vietnam's wood pellet exports.
Most EU nations, in particular, need FSC certification, which assures that the raw wood used to create pellets originates from sustainably managed forest regions.
Nghi Lam
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