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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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Thursday, 20 January 22
CHINESE COAL JUMPS OVER 6% ON PRE-HOLIDAY SUPPLY WORRY - REUTERS
China’s thermal coal futures soared more than 6% on Wednesday, hitting a level last seen in late November as investors grew concerned over ti ...
Thursday, 20 January 22
VIETNAM: COAL SECTOR SEES POSITIVE PROSPECT IN 2022 - VNA
With many signs of rising demand for coal in various economic sectors in 2022, the Vietnam National Coal – Mineral Industries Group (Vinacomi ...
Wednesday, 19 January 22
MARKET INSIGHT - INTERMODAL
Since the beginning of the year, we have been witnessing the BDI correcting downwards with sizable drops across all segments. Latest similar levels ...
Sunday, 09 January 22
INDONESIA MINISTER SAYS 'EMERGENCY OVER' ON COAL SUPPLY CRUNCH - REUTERS
Indonesia’s power emergency which has triggered a coal export ban is over but the government will still continue to discuss policies in this ...
Wednesday, 05 January 22
CHINA COAL FUTURES SURGE ON SUPPLY WORRIES AMID INDONESIA EXPORT BAN - REUTERS
China’s thermal coal futures surged by as much as 7.8per cent to kick off 2022 on concerns of supply disruptions after Indonesia, its biggest ...
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- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- PTC India Limited - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
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- Gujarat Sidhee Cement - India
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