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Russia coal exports and production hit 5 year high in 2018

Coal News - Published on Tue, 15 Jan 2019

Image Source: Oil Price
RT com reported that Russia’s production and exports of coal hit last year their highest levels since 2013. According to S&P Global Platts estimates of data from Russia’s Energy Ministry, Russian coal exports increased last year by 3.4 percent compared to 2017, to reach 191 million tonne the highest level since S&P Global Platts started collecting data on Russia’s coal industry in 2013.

Coal production also reached its highest level since 2013 at 431.76 million tonne, Russia’s production increased by six percent 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 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 tonnes was planned to be reached in 2020. Russia plans to invest around USD 22.4 billion (1.5 trillion Russian rubles) in its coal industry and port infrastructure, Novak told Putin.

Russia’s oil production increased by 1.6 percent annually to 556 million tonnes last year, the energy minister said. Natural gas production beat an 18-year-old record as Russia produced 725 billion cubic meters of natural gas in 2018, raising production by around five percent compared to 2017, Novak told Putin.

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Posted By : Rabi Wangkhem on Tue, 15 Jan 2019
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