SUEK, Mechel Study Boosting Coal Shipments to Japan After Quake

Siberian Coal Energy Co. and OAO Mechel (MTL), Russian coal producers, may increase shipments to Japan after an earthquake-generated tsunami smashed into nuclear reactors in the country, threatening energy supply.

Siberian Coal Energy, known as SUEK, and Mechel (MTLR) are able to boost deliveries if necessary, the two companies said today in e-mailed statements. Russian Deputy Prime Minister Igor Sechin said March 12 that Russia could increase coal exports to Japan by 3 million to 4 million metric tons a year “quite quickly.”

Tokyo Electric Power Co. was today attempting to stabilize three reactors damaged by the biggest earthquake in Japan’s history after a second explosion rocked the Fukushima plant. No large release of radiation was detected after the blast, which didn’t breach the No. 3 reactor and followed a build-up of hydrogen gas, Chief Cabinet Secretary Yukio Edano said in Tokyo.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net.

To contact the editor responsible for this story: Amanda Jordan at ajordan11@bloomberg.net.

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