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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, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
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Showing 26 to 30 news of total 6871 |
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- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
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