Novak announced the diversification of Russian coal exports

MOSCOW, 10 Oct – PRIME. Russia can redirect about 25 million tons of coal from European markets to the east, including through the ports of the Azov-Black Sea basin, said Russian Deputy Prime Minister Alexander Novak.

“The possibility of increasing deliveries to the Asia-Pacific countries is being considered, part of the volumes from the European market can be sent by rail to the eastern ports and border crossings. Thus, about 25 million tons can be redirected from the west to the east, including through the ports of Azov- Black Sea Basin,” Novak wrote in his column for the Energy Policy magazine.

He added that the government, together with the Ministry of Transport, will work to increase the capacity of the Eastern landfill, the availability of maritime transport, the accelerated development of coal port terminals in promising export directions, as well as reduce the cost and time of transportation.

Also, according to Novak, Russia, in order to diversify coal exports, activates settlements in national currencies, such mechanisms are already provided for deliveries to China and India.

“In order to diversify exports, attention is being paid to intensifying settlements in national currencies. Such mechanisms are already provided for when paying for coal supplies with China, India and other countries,” the Deputy Prime Minister wrote.

He stressed that the absence of Russia in some of the world’s coal markets creates problems for consumers, leads to increased demand and higher prices.

Novak recalled that since February, the United States has refused to import Russian coal, since April – Australia, since August – the EU countries. The UK plans to end purchases before the end of the year.

At the same time, the Deputy Prime Minister pointed out that Russia ranks second in terms of coal reserves in the world, sixth in terms of production, and also, along with Indonesia and Australia, is one of the top three suppliers – the share of the total exports of these three countries is more than 80%.

“Thus, the absence of one of the leading manufacturers in certain regional markets creates significant problems for consumers, leads to increased demand and higher prices,” Novak said.