Russia invites China's Shenhua to coal project

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Aug 2010

Russia invited China's Shenhua Energy Co Ltd to take part in a coal liquefaction project, estimated to cost $2 billion to $3 billion, the Russian Energy Ministry said. "The preliminary talks are going on," the ministry's press secretary, Irina Yesipova, told Reuters , adding that the proposal had been sent to China and that its possible participation was discussed at an energy cooperation meeting. Shenhua, the world's most valuable coal producer, could not immediately be contacted for comment. The company previously said it was interested in projects with Russian companies.
Yesipova said the Energy Ministry would look at getting state power firm InterRAO, involved in the project as its operator.
Two sources at Russian coal producers estimated the project could cost between $2 billion and $3 billion.
The site of the liquefaction plant -- which would be able to produce synthetic liquid fuels from coal -- and other details have yet to be determined, she said.

Source: Reuters