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