Mongolia is aiming to increase its coal exports to China by almost a fifth this year, as it seeks to expand energy cooperation with its resource-hungry neighbor.

The central Asian nation forecasts that exports of the steel- and power-making fuel would rise to 100 million tons this year, Mongolian Prime Minister Oyun-Erdene Luvsannamsrai said in an interview on Monday. The two nations reached a deal on Friday for a new cross-border rail link that will increase capacity by 30 million tons.

It’s one of several rail connections Oyun-Erdene is hoping to create, eventually boosting the nation’s coal export capacity to China to 165 million tons, nearly double the almost 84 million tons it sent last year. He also wants to cooperate with China and other nations across energy sectors, from green power generation, hydrogen production and natural gas transit.

Mongolia’s government also plans to push for trilateral negotiations with China and Russia over the Power of Siberia 2 pipeline, a massive proposed natural gas conduit that has stalled over price negotiations. Mongolia is ready to move forward with it if an agreement can ever be reached.

Source: FINANCE.YAHOO