Jan. 24 (Bloomberg) -- Russia will more than double coal exports to Asia to an annual 85 million metric tons by 2030, including 14.9 million tons for China, Energy Minister Sergey Shmatko told Prime Minister Vladimir Putin in a presentation.

In comparison, Russia shipped 32 million tons to India, Taiwan, South Korea, Japan and China last year, according to the presentation today in Kemerovo, Siberia. Exports to Europe will rise by an annual 5 million tons to 85 million tons by 2030 and sales in Russia will increase 11 percent to 219 million tons.

Russia will spend 3.7 trillion rubles ($120 billion) on developing its coal industry through 2030, Putin said today.

--Editor: Tony Barrett, Torrey Clark

To contact the reporters on this story: Ilya Arkhipov in Moscow at iarkhipov@bloomberg.net; Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net