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Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
 Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per day (mcm/d) – 40% of the pipeline’s overall capacity. The European gas market has reacted, with prices down by 5%; but the stability of Russian gas flows is by no means a given, according to analysts at Wood Mackenzie.
Penny Leake, Research Analyst for Europe Gas and LNG at Wood Mackenzie, said: “Further disruptions are expected as Russia seeks to increase political and economic pressure on Europe as winter approaches.”
“It remains unclear what Russia will do. There is a risk that Nord Stream flows will reduce below the 40% capacity seen before the maintenance,” Leake added.
This way, Russia will continue receiving revenues from gas exports, disincentivising the much-needed early gas rationing recommended across Europe, thus exposing countries across the continent to more pressure this winter.
Wood Mackenzie has defined two scenarios for what may come for Russian gas flows and their impact on Europe in the coming months.
Scenario 1: Nord Stream flows remain at 40% of capacity
If Nord Stream flows remain at 40% of capacity and imports through other routes remain at the levels seen since 17 June (before Nord Stream maintenance), Europe will be able to refill storage to more than 80% by 1 November 2022.
Leake said: “Gas demand is expected to be 12% lower than previous winters, due to high prices and demand mitigation measures, including the re-introduction of old coal plants, and Wood Mackenzie anticipates Europe will be able to get through the heating season with a comfortable level of storage under normal weather conditions.”
A cold winter in both Europe and Asia could however result in up to 20 billion cubic metres (bcm) of additional demand (7% of total) and reduce availability of LNG for Europe. This could bring storage levels down to approximately 10 bcm by the end of March 2023 – the minimum level Wood Mackenzie analysis indicates is required to ensure appropriate functioning of storage facilities.
“As a result, some limited demand curtailment may be required to manage peak demand episodes, unless additional supply is secured,” Leake added.
Scenario 2: Nord Stream flows reduce to zero, but Russian flows through other routes continue
If Nord Stream flows reduce to zero by August this year, Europe will only be able to refill its storage to 70-75% by the start of winter, and could finish the heating season with only approx. 10 bcm of gas in storage, risking some demand curtailments.
However, if winter is unusually cold in Europe and Asia, there is a risk gas in storage could run out by the end of February 2023, according to Wood Mackenzie’s analysis. With Europe risking as much as 20 bcm of demand curtailments – the equivalent of 7% of total gas demand or 30-35% of all industrial demand in winter.
Leake said: “Under these conditions, the only material upside that could limit demand curtailments would be bringing back production at Groningen – which brings with it political challenges.”
In all scenarios, the impact will differ by countries. The ones most dependent on Russian gas, such as Germany, Austria, and Central and Eastern Europe, will be most exposed.
“One thing is clear – volatility and uncertainty will persist, meaning that demand and solidarity measures across Europe are required now so we can avoid leaving European gas balance to chance,” Leake concluded.
Source: Wood Mackenzie
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Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
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- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
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