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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, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
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Showing 41 to 45 news of total 6871 |
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- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Planning Commission, India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
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