Africa Becomes Key Target for Russian Coal Exports
(MENAFN) Africa holds the capability to transform into a significant recipient of Russian coal exports, potentially becoming the third-largest market following China and India, stated Russian Deputy Energy Minister Dmitry Islamov during an interview with a news agency.
Islamov emphasized that Africa's population is projected to surpass 1 billion in the coming years, making the continent a major long-term energy consumer.
He explained that China currently stands as the top importer of Russian coal, with Moscow aiming to raise its market share there from the present 25 percent to 33 percent.
As per the minister, Chinese imports mainly consist of thermal coal, used for producing electricity, while India remains a major buyer of coking coal, essential for manufacturing steel.
“We need all directions – east, northwest and south,” Islamov remarked, highlighting that “the third region in terms of potential is Africa, where more than 1 billion people will live in the coming decades.”
These statements follow recent moves by Russian President Vladimir Putin, who in May sanctioned new strategies to bolster the coal sector.
According to a news outlet, the government's initiative features financial aid for coal companies and lowered logistics expenses.
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