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Russian economic development ministry expects global coal market capacity to shrink

That will cause an increase in competition among coal-producing companies, according to the country’s social and economic development outlook

MOSCOW, September 27. /TASS/. Russia’s Economic Development Ministry expects the capacity of the global coal market to shrink and competition among coal-producing companies to intensify in the short-term, according to the country’s social and economic development outlook for 2021 and the planned period of 2022 and 2023 projected by the ministry.

"The sector will face additional restrictions on the external market soon due to the policy pursued by many countries focusing on the shift to alternative, more environmentally-friendly sources of energy, tightening of environmental requirements and introduction of the ‘carbon tax’. That will cause a major reduction in the capacity of the global market and an increase in competition among coal-producing companies," according to the outlook.