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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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Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
Saturday, 07 December 19
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 ...
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- GMR Energy Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Economic Council, Georgia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
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