China has a specific flow toward Russia’s 6 billion U.S. dollars of “exchange of coal†funds. The Deputy Minister of Industry and Energy of the Russian Federation said yesterday that Russia will use 6 billion U.S. dollars to develop coal resources in Sakhalin, Egstein in the Tuva Republic and East Siberia. Specific development projects will be announced by the end of this year. If developed smoothly, Russia is expected to become one of China's major coal suppliers.
At present, over 80% of China's energy demand comes from coal, while imported coal comes mainly from Australia and Mongolia. In fact, Russia has rich coal resources in the Far East and East Siberia, and Elegst has initially discovered coal reserves of 946 million tons.
In September this year, China and Russia signed the "** Coal Exchange" agreement to jointly develop Russia's Far East coal resources. In the next 25 years, China will import at least 15 million tons of coal from Russia each year for the first five years, and at least 20 million tons each year for the next 20 years.
"'** Exchange coal' will enable mutual benefit and win-win situation." Zhuo Chuang Information Coal analyst Zhen Zhen believes. Han Xiaoping, Chief Information Officer of China Energy Network, also stated that in the context of the depreciation of the U.S. dollar, “**change energy†is a rationalization method for seeking energy.
"'**Replacement of energy' is currently China's use of more ways to obtain energy, but it should not be the only way." Lin Boqiang, director of the China Energy Economic Research Center at Xiamen University believes that under the premise of mutual benefit and win-win, China can adopt multiple Ways and means to import resources, "Joint ventures and open markets are all feasible ways to obtain resources."
At present, over 80% of China's energy demand comes from coal, while imported coal comes mainly from Australia and Mongolia. In fact, Russia has rich coal resources in the Far East and East Siberia, and Elegst has initially discovered coal reserves of 946 million tons.
In September this year, China and Russia signed the "** Coal Exchange" agreement to jointly develop Russia's Far East coal resources. In the next 25 years, China will import at least 15 million tons of coal from Russia each year for the first five years, and at least 20 million tons each year for the next 20 years.
"'** Exchange coal' will enable mutual benefit and win-win situation." Zhuo Chuang Information Coal analyst Zhen Zhen believes. Han Xiaoping, Chief Information Officer of China Energy Network, also stated that in the context of the depreciation of the U.S. dollar, “**change energy†is a rationalization method for seeking energy.
"'**Replacement of energy' is currently China's use of more ways to obtain energy, but it should not be the only way." Lin Boqiang, director of the China Energy Economic Research Center at Xiamen University believes that under the premise of mutual benefit and win-win, China can adopt multiple Ways and means to import resources, "Joint ventures and open markets are all feasible ways to obtain resources."