The company noted that the national coal sector faces a number of serious challenges

VLADIVOSTOK, September 2. /TASS/. Elga, one of the top global producers of the premium grade coking coal, expects the situation for Russian coking coal producers may stabilize by the end of this year the company's press service told TASS on the verge of the Eastern Economic Forum (EEF).

The national coal sector faces a number of serious challenges: declining demand of traditional buyers, sanction pressure, ruble appreciation and competition with the renewable energy segment, the company noted.

"Nevertheless, according to estimates of the International Energy Agency, the global energy demand continues growing quicker than commissioning of new renewable energy facilities. Coal continues playing a significant role in the global energy balance. According to our estimates, the situation for Russian producers of coking coal may stabilize by the end of this year," Elga said.

The 10th Eastern Economic Forum will be held in Vladivostok from September 3 to 6. The key topic will be "the Far East: Cooperation for Peace and Prosperity." The Roscongress Foundation is the EEF organizer. TASS is the general information partner of the forum.