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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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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
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Showing 21 to 25 news of total 6871 |
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- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
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