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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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Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
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- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bhushan Steel Limited - India
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