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Top coal exporter turns to natural gas

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World Coal,

Xcoal Energy & Resources LLC, the largest exporter of US coal, is focusing its attention towards natural gas as the world turns towards cleaner-burning fuel, reports Bloomberg.

Speaking at the IHS CERAWEEk Energy Conference in Houston, Texas, US, the company’s CEO, Ernie Thrasher, said “Gas is going to continue to grow at an accelerated rate". He continued “Coal will grow, but maybe at a moderated rate. I owe it to the people in our organisation and the suppliers we have to make sure that we’re ahead of that curve.”

Xcoal is currently the largest US exporter of coal, and Thrasher believes that an LNG export business would complement the company’s existing business: “We’re looking to take advantage of the synergies of our global coal presence […] We have a number of our global customers who are quite interested in the possibility of LNG from US origins. We want to get involved in that decision-making process as existing contracts with these customers expire and they start to plan for long-term renewal,” added Thrasher.

Edited from source by Joseph Green

Source: Bloomberg.

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