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Russia plans to expand its presence on global coal market, Putin says

Last year, domestic companies exported more than 190 mln tonnes of coal, according to the president

KEMEROVO, August, 27. /TASS/. President Vladimir Putin announced Russia’s plans to expand its presence on the world coal market.

"Last year, domestic companies exported more than 190 mln tonnes of coal. According to this indicator, our country confidently ranks third in the world," the President said at a meeting of the commission on the strategy for the development of the fuel and energy complex and environmental safety.

Putin said he is confident that the current situation provides an opportunity to expand the country’s presence in the global coal market - "to strengthen its positions and increase our share."

At the meeting the president proposed discussing the prospects of development of coal exports.

Putin has also urged domestic fuel and energy companies to enter new markets, as well as to diversify supplies.

"Russian energy companies maintain stable positions on foreign markets. For example, the volume of natural gas exports broke the record high for two consecutive years," the head of state said at a meeting of the Commission on the Strategy for the Development of the Fuel and Energy Complex and environmental safety.

He called on developing the export potential of the national energy sector.

"Over the past few years, competition in the global energy market has noticeably aggravated, so it is extremely important to effectively use our competitive advantages, diversify supply routes, enter and consolidate positions on new markets," Putin said.

In his opinion, Asia-Pacific region is "one of the most attractive destinations."

"There is a growing demand for a wide range of goods, and this opens up great opportunities for Russian companies," the president said.

He recalled the agreement with Chinese leader Xi Jinping to establish a Russian-Chinese energy business forum.

"I am confident that this platform will expand cooperation between our countries, open new areas for mutual investments, and launch promising projects in the energy sector," the Russian leader said.

The Russian leader said that the first forum is expected to be held this year in November in Beijing.

According to Putin, about 40 Russian companies have expressed their interest in participation and a representative delegation is expected from China.

Putin also stressed that Russia "is open for cooperation with all countries in the East and in the West." "It is important not only to win new markets, but also to feel confident in our traditional markets," he noted.