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September 13, 2017

Anatoly Yanovsky to speak at panel discussion on coal industry future

Deputy Minister of Energy of the Russian Federation Anatoly Yanovsky will speak at the panel discussion ‘The Future of the Coal Industry amidst the New Climate Agenda’ as part of the Russian Energy Week Forum.

Heads of major coal companies and industry experts, including Kuzbassrazrezugol Director Sergei Paramonov and SUEK General Director Vladimir Rashevsky, will present their vision of the prospects for the development of the coal industry.

According to the forecasts of the Russian Ministry of Energy, Russia is expected to produce a record 400 million tonnes of coal in 2017 (an increase of 4% year-on-year), mainly due to thermal coal. “In 2017, we also expect coal exports to increase by 8% to 185 million tonnes, mainly on account of APR countries. We will be able to achieve this for two reasons: by improving the quality of Russian coal and the flexible price policy of Russian coal companies on the international market”, Yanovsky said.

Data from the Russian Federal Customs Service confirms the positive dynamics in coal exports: coal sales increased by 61% from January to June versus the same period of last year. Total revenue amounted to approximately RUB 420 billion compared with RUB 260 billion last year.
Commenting on the coal industry’s long-term prospects, Yanovsky noted: “It is obvious to me that global coal consumption will only increase. This is due to population growth and the need to address the issue of energy poverty. Sure, the share of renewable electricity sources – sun and wind – will grow, but coal will not surrender its positions and will occupy its niche”.

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