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Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
 The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy strategy and policy. And as Europe searches for viable alternatives to Russian gas, LNG seems the most popular solution to plug the supply gap. But LNG prices are rising fast, and contracting patterns are changing. Could there be other, more local, longer-term supply options?
A decade ago, Europe hosted some of the most active unconventional gas exploration programmes outside North America. Then the commodity downturn in 2015 – combined with some high-profile dry holes – brought a swift end to almost all of Europe’s onshore exploration.
Is it possible that shale exploration could come back into vogue as Europe searches for alternative gas supply?
In a recent video we talked through the potential for unconventional gas to eventually become a meaningful part of the solution to Europe’s gas supply problem – and the numerous barriers. Fill in the form to access the film and read on for some highlights from the discussion.
Russia’s war with Ukraine changed the game
Europe’s gas balance has changed fundamentally as a result of the conflict. In January-August 2022, Europe’s imports from Russia totalled only 55% of the volumes in the same timeframe last year.
Europe no longer has any illusions about the reliability of Russia as a gas supplier. Diversifying supply has become an imperative. So, without Russian imports, how much more gas does Europe need?
In a hypothetical scenario where the EU stops importing Russian gas by the end of 2023, the next couple of years would see record high import requirements. But longer term, there is significant uncertainty around demand – with a range of up to 100 bcm in terms of potential requirements. If demand remains resilient, we forecast that the supply and demand gap would be about 300 billion cubic metres (bcm). In a scenario where Europe’s recent decarbonisation and diversification plan, the REPowerEU, is successful, that gap would be closer to 210 bcm.
In either scenario, Europe will turn to LNG to plug the gap. In the next couple of years, it will need to compete with Asia for limited supply – all while LNG prices are rising.
That could open the door to alternatives like unconventional gas. But has the opportunity for European shale closed indefinitely after the last round of failed exploration? And can these options be delivered fast enough, before demand risks increase?
European shale has vast potential, but there has been no material production
Ten years ago, exploration and appraisal work across Europe spanned from Poland to the UK, Sweden, Germany and Austria. Target plays were shale and tight gas sands, which both had huge resource potential. Parallels to booming US unconventional gas supply were drawn, aided by some European shale plays showcasing excellent geologic and geochemical properties.
However, none of the in-place gas volumes were commercialised, and in five years of evaluation not much drilling and completion progress was made. Even in the UK and Poland, where activity was the most promising, only a few wells were finished, and sky-high costs coupled with management fatigue in the 2015 downturn stalled the projects.
In the current race to find alternative gas sources, could the tide be turning? The UK and Germany are both reportedly discussing lifting national bans on hydraulic fracturing. That would be a bold move that would set the stage for shale gas pilots again.
Would investors and E&Ps still be interested?
In the first round of European shale gas exploration, many of the Majors led this activity.
Now though, the Majors have shifted their unconventional focus to the Permian, or in some cases, scaled back global shale projects completely. Their shale portfolios appear to be largely set: they are unlikely to want more exposure to new unconventional assets.
Source: Wood Mackenzie
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Monday, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired ge ...
Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
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- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- PTC India Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- White Energy Company Limited
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
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