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Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
 A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immediate aftermath, the region would suffer from gas shortages and high prices due to its limited ability to reduce demand, source alternative supplies and transport gas to the most affected countries. A surge in gas prices after a ban would probably also have knock-on effects on electricity, coal and oil prices. Industry would bear the brunt of supply shortages as household demand would be given priority.
A lengthy ban on Russian gas is a low-probability, but high-impact scenario. Russia supplies around 27% of Europe's gas and, given the high cost a ban would impose on all sides, we believe it would take a severe deterioration in the Ukraine crisis for it to happen. A temporary disruption just affecting gas supplies via Ukraine is a more likely scenario, for which Europe is better prepared due to high reserves and the recent opening of a new pipeline from Russia to Germany.
In the event of a lengthy ban imposed by either Europe or Russia, gas-intensive sectors such as steel and chemicals would be most affected. This would accelerate the closure or mothballing of capacity that is suffering from low profitability due to competition from low-cost energy jurisdictions such as the US or Middle East. In particular, issuers without geographic and product diversification would be most at risk of adverse rating action.
In 2013 Russia supplied 145bcm of gas to Europe, which would have great difficulty in sourcing alternative supplies. Increased European gas production and North African piped gas could offset a small proportion of this. Tapping into the global LNG market would yield limited volumes as Europe's Russian gas demand equates to nearly half of the world's LNG production, which is already mostly tied to long-term supply contracts. Hence, gas and other energy prices could surge.
In theory, Europe has plenty of unused LNG regasification capacity, which could help replace some Russian supplies. But the majority of plants are located in Southern Europe and the UK, far away from the Central and Eastern European countries that are most reliant on Russian gas. The European gas networks suffer from bottlenecks, which limit the ability to transport gas across borders.
Demand reduction initiatives would only be of limited benefit. Japan was able to reduce power demand by 4.7% following the Fukushima disaster, but this was partly weather-related and achieving that level of reduction across 28 countries with their own agendas and exposures would be far harder.
For more details on the impact that a ban on Russian gas would have on Europe, please see the report "Living Without Russian Gas - Replacing Russian Gas in the Short-term" published today and available from www.fitchratings.com. The report is the first in a series that will examine the potential impact on European utilities and how Europe could reduce its energy reliance on Russia in the longer term.
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Friday, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
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Showing 3826 to 3830 news of total 6871 |
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- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
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