Turkey gave a sigh to Russian coal

Russian energy coal for Turkish companies has reached its highest value since February and exceeded European quotations. Experts note that the fuel from Russia remains the most preferred option for Turkey — due to price and quality. In addition, more coal may be needed to increase electricity production for supplies to Syria.

"Russian energy coal with a calorie content of 6000 kcal per 1 kg delivered to Turkey for the week of September 30 — October 5 went up by 3.3% to $ 94.5 per ton, including freight (CFR)," Kommersant reports with reference to OIL Research.

This is the maximum price since February and it is higher than the current quotes on the European market.

NEFT Research believes that cement plants in Turkey continue to purchase Russian coal, so prices for alternative fuels of appropriate quality are higher.

Analysts also reported that some Turkish companies are buying Russian coal for the future.: "This may be due to the projected increase in electricity exports to Syria, as well as the desire to fix supplies in advance amid a possible seasonal increase in demand."

NEFT Research consulting partner Alexander Kotov told the publication that high-calorie Russian coal is often sold at a discount in western markets with a discount and its size can reach 20% - more than in eastern markets.

For eight months of this year, Turkey has increased coal purchases by 34% to 21.3 million tons, according to estimates by the Institute of Energy and Finance based on Turkish statistics.

"The country is facing a growing domestic demand for electricity, while its own generation simply does not have time to cover it. And coal is traditionally a stable source for the base load, especially in those periods when the HPP shows low output," Oleg Abelev, head of the analytical department of Rikom—Trust, told Kommersant.