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Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may well end up having a longer-term impact, especially on thermal coal.
The spot price dropped to $2.95 per million British thermal units (mmBtu) for the week ended Feb. 7, the lowest price in records stretching back to 2010. It has lost 57% of its value since the pre-winter peak of $6.80 per mmBtu in mid-October, and is down 74% from the peak price in 2018 and 86% from the all-time high from February 2014.
While it’s unlikely that spot LNG prices will stay at the current depressed levels indefinitely, the trend toward structurally lower prices appears sustainable. There is still no shortage of LNG projects being built, with 17 million tonnes of capacity due to be commissioned this year alone, and considerably more likely in the next five years, as projects from Russia to East Africa start to come online.
This supply surge is likely to have two impacts on prices. Firstly, it will ensure that spot prices remain under downward pressure, and secondly, it will likely accelerate the shift away from long-term, oil-linked contracts to shorter-term, more flexibly priced deals.
This change in the way LNG is priced should give pause for considerable thought to any would-be developers of thermal coal power projects based on imported fuel in Asia, especially Japan. As a country that relies on imports for virtually all its energy, Japan has long prioritized security of supply and diversity in its energy mix. But perhaps the sands have shifted enough to lead to a re-think.
It would in all likelihood be possible to sign long-term or medium-term LNG supply pacts that are not linked to the price of crude oil, but rather to other instruments such as U.S. Henry Hub natural gas, or European gas prices, or even seaborne thermal coal costs. This could give Japan the security of supply it desires, but virtually eliminate the problem LNG has always had, its high cost relative to thermal coal.
Source: IEEFA | Reuters
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Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
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- Minerals Council of Australia
- Tata Chemicals Ltd - India
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- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
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- Bhatia International Limited - India
- Romanian Commodities Exchange
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- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
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- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
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- Cement Manufacturers Association - India
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- Marubeni Corporation - India
- Australian Coal Association
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- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- White Energy Company Limited
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- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
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- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
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- Mercator Lines Limited - India
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- Renaissance Capital - South Africa
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- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
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- Ministry of Mines - Canada
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- Indogreen Group - Indonesia
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- OPG Power Generation Pvt Ltd - India
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- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
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- PNOC Exploration Corporation - Philippines
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- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
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- India Bulls Power Limited - India
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- Aboitiz Power Corporation - Philippines
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- Toyota Tsusho Corporation, Japan
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
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- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
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- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
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