Lipatov: Russian coals need to develop competitive advantages on the world market, State Duma Committee for Energy
Release Date: 2010-03-17
Yuri LIPATOV, Chairman of State Duma’s Energy Committee, chaired the Committee’s meeting focused on developing the competitiveness of the Russian coals on the world market on March 17, 2010. Representatives of the Energy Committee, Ministry of Energy, SUEK, Russian Science Academy and Russian Railways also took part in the meetingThe Committee resumed, after discussing the speeches on behalf of the executive power, research institutes and business, that a drastic fall of coal demand followed the global financial crisis, causing a fall in coal production, refining and sale.
The fallen demand for coal caused a downfall of its market prices and a surge in failed payments to the suppliers. It was followed by a crisis experienced by companies involved in production and sales of coal.
Sharply falling coal prices on the world market require state support for the coal business. Its main factors are, as the discussion showed, introduction of state guarantees for renewal of the main assets and abolishment of restrictions in coal cargo transport and in forming a competitive market environment in coal transport.
The Energy Committee deems it important to develop laws concerning the state’s social policy to provide additional social security for employees of the coal industry and for militarized rescue groups in order to minimize the negative impact on the activities of coal production companies and on the welfare of the industry. Implementation of modern and environment-friendly coal technologies will help develop the domestic coal market and save about 40 bln cubic meters of gas annually, making Gazprom less dependent on imported coal.
| Type: | NORMAL |
| Company: | State Duma Committee for Energy |
| Country: | Russian Federation |