Australia Seeks to Fill the Coal Gap as Key Buyers Shun Russia
- Prices are surging as Europe looks for alternative supply
- Government connecting local producers to new markets: minister
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Australia aims to capture new coal demand as consumers in Europe rush to find alternatives to Russian supply amid the war in Ukraine.
The dash by utilities in Europe, which typically import more thermal coal from Russia than any other country, to add new suppliers has sent prices of the fossil fuel surging. Officials in Australia, the world’s biggest shipper after Indonesia, are helping connect producers to markets outside usual demand hubs in Asia, according to Resources Minister Keith Pitt.