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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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Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
Monday, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
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- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
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