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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, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
Wednesday, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
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- Anglo American - United Kingdom
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
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