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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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- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Australian Coal Association
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
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