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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, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
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- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
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