12 Apr 2024 10:43

Russia's Energy Ministry hopes to maintain coal output, exports in 2024 at 2023 level

MOSCOW. April 12 (Interfax) - Russia's Energy Ministry expects the parameters of the domestic coal industry this year to remain at last year's level, Deputy Energy Minister Sergei Mochalnikov said at the Mining Industry forum.

"In the plan for 2024, we have set ourselves the task of maintaining the parameters of 2023," Mochalnikov said.

"We have been passing through 2024 at minimum prices," Mochalnikov said regarding coal prices. "We should see a rise in demand for coal beginning in 2025," he said.

Russia's coal production totaled 438 million tonnes and exports totaled 213 million tonnes in 2023, Deputy Prime Minister Alexander Novak said in January in an article in the Energy Policy publication.

The EU and UK embargos on Russian coal imports came into force on August 10, 2022, as part of the fifth package of sanctions. The EU at the time estimated the overall annual amount of coal imports to the member countries at 8 billion euros, with Russian supplies accounting for approximately half of the amount.