NEWS

Russia, China work on agreement for supplying 100 mln tonnes of coal — Energy Ministry

Russia and China are developing an intergovernmental agreement on the supply of coal in the amount of 100 mln tonnes, Head of Department of Foreign Economic Cooperation and Fuel Markets Development at the Russian Energy Ministry Sergey Mochalnikov announced on Friday.

Mochalnikov recalled that in October 2021, Russia and India signed a memorandum on the supply of 40 mln tonnes of coal to India as part of the Russian Energy Week. “Now an intergovernmental agreement with the People’s Republic of China is being developed, and the figure is 100 mln tonnes,” he said.

“In the coming years, consumers should receive as much coal as they need,” Mochalnikov said.

Mochalnikov also noted that Russian coal exports have very good prospects due to reduced supply on the world market. In addition, according to him, in the past 5-6 years, the Asia-Pacific market has been a priority export destination for Russia against the growing demand for coal in this region. “We have good prospects until 2030, and Russia should take its share in this growing market,” he added.

As follows from Mochalnikov’s presentation, the share of Russian coal in the Asia-Pacific market in 2021 was 12%. At the same time, since 2010 this figure has increased by 8 percentage points – from 4% to 12%).

https://tass.com/economy/1405789