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