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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, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
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- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
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