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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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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
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Showing 21 to 25 news of total 6871 |
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- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
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