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Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
 A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immediate aftermath, the region would suffer from gas shortages and high prices due to its limited ability to reduce demand, source alternative supplies and transport gas to the most affected countries. A surge in gas prices after a ban would probably also have knock-on effects on electricity, coal and oil prices. Industry would bear the brunt of supply shortages as household demand would be given priority.
A lengthy ban on Russian gas is a low-probability, but high-impact scenario. Russia supplies around 27% of Europe's gas and, given the high cost a ban would impose on all sides, we believe it would take a severe deterioration in the Ukraine crisis for it to happen. A temporary disruption just affecting gas supplies via Ukraine is a more likely scenario, for which Europe is better prepared due to high reserves and the recent opening of a new pipeline from Russia to Germany.
In the event of a lengthy ban imposed by either Europe or Russia, gas-intensive sectors such as steel and chemicals would be most affected. This would accelerate the closure or mothballing of capacity that is suffering from low profitability due to competition from low-cost energy jurisdictions such as the US or Middle East. In particular, issuers without geographic and product diversification would be most at risk of adverse rating action.
In 2013 Russia supplied 145bcm of gas to Europe, which would have great difficulty in sourcing alternative supplies. Increased European gas production and North African piped gas could offset a small proportion of this. Tapping into the global LNG market would yield limited volumes as Europe's Russian gas demand equates to nearly half of the world's LNG production, which is already mostly tied to long-term supply contracts. Hence, gas and other energy prices could surge.
In theory, Europe has plenty of unused LNG regasification capacity, which could help replace some Russian supplies. But the majority of plants are located in Southern Europe and the UK, far away from the Central and Eastern European countries that are most reliant on Russian gas. The European gas networks suffer from bottlenecks, which limit the ability to transport gas across borders.
Demand reduction initiatives would only be of limited benefit. Japan was able to reduce power demand by 4.7% following the Fukushima disaster, but this was partly weather-related and achieving that level of reduction across 28 countries with their own agendas and exposures would be far harder.
For more details on the impact that a ban on Russian gas would have on Europe, please see the report "Living Without Russian Gas - Replacing Russian Gas in the Short-term" published today and available from www.fitchratings.com. The report is the first in a series that will examine the potential impact on European utilities and how Europe could reduce its energy reliance on Russia in the longer term.
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Friday, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
KOMIPO INVITES BIDS FOR LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 90,000 Metric Tons (MT) of low volatile bit ...
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- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Planning Commission, India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
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