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coal-investing

Ukraine Will Need Russian Coal This Winter

Teresa Matich
Nov. 13, 2014 11:13AM PST
Industrial Metals Investing

Despite efforts to reduce dependence on Russia, Ukraine will likely need to buy coal from Russia to get through the winter, Reuters reported.

Despite efforts to reduce dependence on Russia, Ukraine will likely need to buy coal from Russia to get through the winter, Reuters reported.

As quoted in the publication:

Conflict between pro-Russian rebels and Ukrainian forces in Ukraine’s industrial east has disrupted coal supplies to thermal power plants (TPP), which provide around 40 percent of the country’s electricity, and has left reserves critically low ahead of the cold winter months.

“We have no other option but to turn to the Russian producers and try to buy coal there, but we put the country’s energy security under severe threat,” Prodan said at a government meeting.

Earlier this year the government signed a deal to import 1 million tonnes of coal from South Africa and has already received three deliveries. But the supplier this week discontinued shipments amid allegations within Ukrainian media of irregularities within the deal.

Click here to read the full Reuters article.

coal-investing russia
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