The Ministry of Energy said that it would compensate for the decline in coal exports in 2022

MOSCOW, 7 Oct — PRIME. The decrease in coal exports from the Russian Federation this year is offset by increased demand within the country, which has grown by more than 7 million tons since the beginning of the year, Deputy Energy Minister Sergei Mochalnikov said at the conference “Coal Industry – New Realities.”

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1 Named the volume of additional budget revenues from export duties on coal and fertilizers

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Named the volume of additional budget revenues from export duties on coal and fertilizers

“Over the first eight months of 2022, the level of production decreased by less than 1%, and there is still a drop in exports. However, this drop is largely offset by increased demand in the domestic market, which has grown by more than 7 million tons since the beginning of the year,” said he.

Mochalnikov recalled that following the results of last year, Russia closed the top three world leaders in coal exporting countries. The share of Russian coal in world exports, according to the deputy head of the Ministry of Energy, is 17%.

The ban on the supply of Russian coal to the EU countries began to operate in August. The industry is currently facing an ambitious task of reorienting them to alternative markets, and this task determines the prospects for the development of the coal industry, the Deputy Minister also stressed.

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“It is necessary to implement infrastructure projects, primarily the construction of the capacities of the Eastern test site, as well as the search for new logistics solutions, including the development of the infrastructure of the Black Sea basin,” Mochalnikov said, stating that all these measures will increase coal exports from Russia to the Asia-Pacific countries and lead to preservation of investment potential in the coal industry.