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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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Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
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- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Planning Commission, India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
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