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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, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
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Showing 6 to 10 news of total 6871 |
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- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- The University of Queensland
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
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