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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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- The University of Queensland
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
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