Wedoany.com Report-Oct 08, Deputy Prime Minister Alexander Novak stated that Russia aims to increase coal exports to India, capitalizing on the country's growing demand for coal amid record power consumption.
India may surpass China as the largest buyer of Russian coal by the next decade due to China's plans to cut coal usage. India's coal production reached a record 997.828 million metric tons last fiscal year, with over 75% of its power generation dependent on coal. In 2023, India imported 176 million tons of thermal coal, with Russian exports rising from 20 million tons in 2022 to 26.2 million tons.
However, India remains cautious about potential sanctions against Russia, recently deciding not to buy liquefied natural gas from Russia's Arctic LNG 2 project, which is subject to Western sanctions.
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