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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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Showing 16 to 20 news of total 6871 |
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- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
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