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Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
 Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
Indonesia): Air Products & Chemicals and the Indonesian government’s deal on coal gasification projects has triggered a looming policy conflict because it may be impossible to meet the business interests of all parties, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA).
Air Products, a U.S.-based industrial gas company, recently signed additional memoranda of understandings reportedly worth US$15 billion for coal gasification projects in Indonesia. Two of the gasification plants would be used to create dimethyl ether (DME) as a substitute for Indonesia’s domestic liquefied petroleum gas (LPG) imports.
“Many optimistic statements have been made about Air Products’ downstream coal plan in Indonesia,” says Ghee Peh, an IEEFA energy analyst and the report’s author. “But it may be hard for all of the parties involved to realize their dreams.”
The report focuses on a previously announced $2.1 billion project to build a DME plant in Sumatra (which was the subject of a November 2020 IEEFA report). All parties—coal supplier Tambang Batubara Bukit Asam (PTBA), DME plant operator Air Products, and DME offtaker Pertamina—are unlikely to achieve their objectives at the same time. It would require a scenario that includes reduced stranded asset risks, low-risk fixed returns to pay for the DME plant, and selling DME for a profit.
Air Products’ business model is to cut out commodity price risks, effectively insulating returns. PTBA’s DME project could make this low-risk business model difficult to implement, and the conflict could be passed on to the off-taker, Pertamina.
A higher DME purchase price would mean a government subsidy for Pertamina so that the DME can be sold at an affordable price for Indonesian households.
Further compounding the economic unviability of the proposed projects is the difficulty in calculating DME prices, because coal, LPG and oil prices all move in the same direction.
“Over the last 20 years, the DME price has been cheaper than LPG for 15 months, or about 6% of the period, on an ‘apples to apples’ basis,” says Peh.
IEEFA’s report suggests that a government subsidy similar to the current LPG subsidy from Indonesia’s Ministry of Finance is necessary for DME because of its high production cost of US$601/tonne, which includes a 15% DME production margin for Air Products.
“From the government’s point of view, the savings only work when the LPG price is above a certain level—about US$858/tonne,” says Peh. “Since this has only happened for 6% of the last 20 years, the DME project in its current form would not be able to justify any savings, nor would it be able to satisfy all four stakeholders at once.”
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Wednesday, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
Wednesday, 02 February 22
MARKET INSIGHT - INTERMODAL
Oil prices have rallied to the highest level since October 2014 breaking above $90/bbl recently. November 2014 was the point when OPEC unleashed pr ...
Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
Thursday, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
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- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
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