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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 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- The University of Queensland
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
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