LONDON, April 5 (Reuters) - Coal prices may have much higher to go this year on Germany's nuclear rethink and the Japan crisis, despite having dipped after the first shock reactions across energy markets.

Analysts polled by Reuters already predicted steady gains this year, but a pull back due to a seasonal demand dip and a surge of liquified gas (LNG) exports to Europe is likely to only prefigure sharper gains than expected later.

Coal accounts for 40 percent of world electricity generation, according to the International Energy Agency, and will bear much of the burden of any loss of nuclear's 14 percent stake.

Coal prices have seen sharp intra-day spikes since December in response to floods in Australia, Japan's disaster and Germany's decision to shut 7 megawatts of nuclear power, pushing Australian prices close to $135 a tonne and DES ARA Europe prices to around $130.