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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, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
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Showing 26 to 30 news of total 6871 |
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- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- MS Steel International - UAE
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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