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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, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
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Showing 6 to 10 news of total 6871 |
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- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
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