Moscow, January 14 - Neftegaz.RU. Russia’s production and exports of coal hit last year their highest levels since 2013, according to Platts estimates of data from Russia’s Energy Ministry.
Russian coal exports increased last year by 3.4 % compared to 2017, to reach 191 million mt—the highest level since Platts started collecting data on Russia’s coal industry in 2013.
Coal production also reached its highest level since 2013—at 431.76 million mt, Russia’s production increased by 6 % in 2018 compared to 2017.
According to Platts estimates and to thermal coal traders who spoke to Platts, Russian producers continue to seek domination on the European market and have been putting in a lot of effort to grab more market shares on the Asian markets such as South Korea and Taiwan.
Last year, the average free on board (FOB) coal prices for the Atlantic and Pacific markets were both higher compared to 2017, which could be a big incentive for Russia to continue producing and exporting more coal to seaborne destinations, according to Platts.
Russia’s Energy Minister Alexander Novak briefed President Vladimir Putin on the Russian energy sector production in 2018, saying that the coal production of around 433 million tons was planned to be reached in 2020. Russia plans to invest around $22.4 billion in its coal industry and port infrastructure, Novak told Putin.