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Shenhua Group Aims to Become World's Largest Coal Dealer in 2010

Shenhua group aims to become the world's largest coal dealer in 2010 with coal output of 200 million tons, said its Deputy General Manager Zhang Yuzhuo at the ongoing Euro-Asia Economic Forum, which was held from Thursday to Friday in Xi'an, capital of northwest China's Shaanxi Province.

Shenhua, a young corporation focusing on coal industry, is engaged in comprehensive development of coal, electricity and oil and transportation, realizing integrated management of production, transportation and sales, Zhang said.

Over the past six years, it has witnessed six times increase in coal output and sales volume, he said.

Shenhua's installed capacity of electricity generation reaches 10 million kilowatts, with annual power output about 15.4 billion kwh, according to Zhang.

Energy security is a global issue of great importance, and many countries in the world are seeking a strategy to safeguard their energy security in the long run, he said.

Against the backdrop of economic globalization, the regional energy cooperation has become an effective way to guarantee national energy security, so Shenhua is striving to push forward energy cooperation in central Asia, Zhang said.

Coal accounts for 70 percent of China's total energy consumption, much higher than that of natural gas and petroleum, he said. This kind of coal-oriented energy structure will not be changed fundamentally in the near future. But the ratio is expected to reach 60 percent in 2010 and 50 percent in 2020.

China's coal resources are mainly located in its north and northwest region, so it is a realistic choice for the corporation to rely on the abundant coal resources in northwest China, he said.

The coal mining and development in Shaanxi Province and other parts of northwest China have become an important part of China's energy security strategy, he said.

He called for the establishment of information exchange mechanisms between energy companies in China and central Asian countries, saying Shenhua has started coal-cleaning cooperation with companies in Europe, the United States, Japan, South Africa and India.
(Xinhua News Agency November 12, 2005)

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