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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, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
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Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
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