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Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
 The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a year earlier. European natural gas and South African coal prices reached all-time highs in March and April, while U.S. natural gas prices reached their highest level since 2008. The surge in prices partly reflects the impact of the Russian invasion of Ukraine; in 2020, Russia accounted for one-quarter of global exports of natural gas and just under one-fifth of coal exports. Beyond the impact of the war, demand for natural gas and coal has been robust, rising by about 5 and 6 percent, respectively, in 2021 amid a strong post-pandemic recovery, with both reaching record highs.
The war in Ukraine is disrupting trade in energy. Europe relies heavily on Russia for imports of natural gas and coal. In response to the war, the European Union imposed a ban on imports of Russian coal starting in August 2022 and has pledged to reduce imports of Russian gas by two-thirds by the end of the year. While some of Russia’s coal can be redirected to other countries, this will be costly as coal is bulky and expensive to transport. Redirection of natural gas is even more limited due to a lack of transportation infrastructure — 70% of Russia’s exports to Europe are by pipeline.
EU turns to alternative LNG suppliers. The EU has sharply increased its imports of liquefied natural gas (LNG) to rebuild depleted inventories and diversify its suppliers. Inventories have risen rapidly in the last few months, although they remain slightly below the five-year average. In addition, EU countries are investing in additional infrastructure to facilitate LNG trade, such as new terminals, and the EU has also announced plans to sharply increase renewable energy capacity. Energy policies in Europe, however, have large spillover effects on other countries. For example, the sharp increase in EU imports of LNG has forced other countries that rely on LNG, notably emerging markets in Asia, to turn to coal.
Amid high prices, U.S. exports of LNG soar. The United States exported 11.5 billion cubic meters per day in the first half of 2022, a record high and equal to 12% of its domestic production. U.S exports to the EU and the United Kingdom have more than tripled compared to last year, such that Europe accounted for about three-quarters of U.S. LNG exports in the first half of 2022. The increase in U.S. LNG exports reflects the high spot prices of European natural gas compared to both the U.S. and Asia prices. U.S. LNG exports have recently declined, however, due to an explosion at a major LNG terminal. This disruption to supplies is expected to last until October.
Coal production rises amid high prices and shortages. Although global coal production increased by nearly 6% in 2021, coal shortages in China and India led to policies aimed at increasing domestic production. Because the coal (and natural gas) shortages have persisted, additional policy measures were introduced earlier this year. India, for example, announced plans to reopen 100 coal mines that had previously been considered uneconomic.
Risks to the natural gas and coal outlook. After a projected sharp increase in 2022, natural gas and coal prices are expected to moderately decline in 2023, although they will remain much higher than their five-year average. The duration of the Russia-Ukraine conflict and the extent of its disruption to trade in coal and natural gas are the biggest uncertainties facing the outlook for the market. A sharp reduction in Russia’s exports to the EU, for example, could cause prices to spike, particularly if it occurred during the winter period when demand is high. Exports of natural gas from Russia to Europe have already fallen due to maintenance and other technical issues with the Nord Stream 1 pipeline. Prices also remain vulnerable to weather-related conditions and import policies that can affect trade patterns and push up costs. This is particularly the case given the very limited global spare production capacity for natural gas.
By Peter Nagle & Kaltrina Temaj
World Bank
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Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
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- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Australian Coal Association
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
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