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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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Wednesday, 01 January 14
DRY BULK CARRIER OWNERS ANTICIPATING AN EVEN STRONGER 2014 YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our firs ...
Tuesday, 31 December 13
INDONESIA'S COAL PRODUCTION COULD HIT 450 MMT IN 2014 - ICMA
COALspot.com: Indonesia, the fourth largest coal producer and largest coal exporter in the world, to increase coal output in year 2014 instead of th ...
Tuesday, 31 December 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Tuesday, 31 December 13
MORE THAN $21 BILLION INVESTED IN SECOND HAND SHIP PURCHASES IN 2013
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most so ...
Monday, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
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- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Interocean Group of Companies - India
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