Roundtable at REW 2017: ‘The Future of the Coal Industry against the Background of a New Climate Agenda’

October 4, Moscow. – A roundtable entitled ‘The Future of the Coal Industry against the Background of a New Climate Agenda’ has been held as part of Russian Energy Week.

Participants in the event included General Director of SDS-Coal Gennady Alekseev, Commercial Director of Port Management Company Irina Olkhovskaya, Vice President of EVRAZ Sergey Stepanov, Head of the Republic of Buryatia Alexei Tsydenov, CEO of Mechel Mining Pavel Shtark, and Chairman of the Board of Directors of Karakan Invest Georgy Krasnyansky, among others. Moderating the discussion was Deputy Minister of Energy of the Russian Federation Anatoly Yanovsky.

The participants discussed prospects for development in the industry and presented their assessment of the current state of affairs in the sector. Among the major global challenges facing the coal industry named by Anatoly Yanovsky in his presentation were the decline in demand for coal and unstable conditions on the coal market. “The key external challenges facing the Russian coal industry are a global slowdown in demand for coal, stiffening competition, and increasing extraction and transport costs within Russia”, he said. According to the Deputy Minister, these are challenges that the coal industry is ready to tackle: “Forecasts indicate that it is possible for Russia to maintain and strengthen its position in external markets whilst increasing coal exports by almost 50%.” Yanovsky believes that developments in Asia will play a decisive role.

Participants concluded the event by noting the positive growth trend in the sector. One of the major reasons behind this is coal’s status as the cheapest energy source. In addition, the industry is constantly introducing new technologies to increase efficiency and reduce its impact on the environment.