EU Eyes Indonesian Coal amid High Gas Prices

Summary

European Union countries have started to suffer from the energy crises. They may reconsider using coal as an alternative as gas prices soar due to tight supply amid increasing demand ahead of winter. Fengkuang Coal Logistics reported that electricity producers in European countries were interested in purchasing coal from Indonesia in the fourth quarter of this year due to high gas prices. One of these countries was Italy.

So far, European countries have gotten coal supplies from Russia and Colombia. However, high demand prevents them from getting enough amounts. "Surprisingly, Europe countries have reconsidered using Indonesian coal and asked about coal supplies in November and December since natural gas prices are expected to rise sharply," Fengkuang Coal Logistics wrote in its report on Thursday (10/7).

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