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Friday, 14 November 14
MORE NATURAL GAS FROM RUSSIA TO HELP STABILISE CHINA PRICES - FITCH RATINGS
 COALspot.com: Fitch Ratings has said possible additional natural gas supplies from Russia's OAO Gazprom to China via the Altai pipeline would help China to materially close its demand-supply gap, which would provide greater stability to gas prices in the country.
According to Fitch, on 9 November 2014, Gazprom and China National Petroleum Corporation signed an additional framework agreement to supply 30 billion cubic metres (bcm) of natural gas a year to China via the Altai pipeline, known as the "western route". This follows an agreement signed in May 2014 to supply 38bcm of natural gas to China via the Power of Siberia trunkline, known as the "eastern route".
While no pricing details for the latest agreement are available, Fitch considers it unlikely that the price will be much higher than the "eastern route" agreement, at or above USD350 per thousand cubic metre (around CNY2.2 per cubic metre).This is materially lower than the cost of imported liquefied natural gas (LNG) in Asia; in 2013, LNG accounted for around 15% total gas consumed in China. The two gas supply contracts would make Russia China's single largest gas supplier, overtaking Turkmenistan's 65bcm per year.
China's National Development and Reform Commission (NDRC) have an ambitious natural gas usage target of 360bcm by 2020; in 2013, the demand in China was 168bcm. Progress in securing piped gas from both Russia and central Asia is critical to achieving that target as domestic production growth has been slow.
Aside from ensuring sufficient supply, the contracts with Russia also ensure supply at prices cheaper than LNG, which will stabilise natural gas prices in China over the medium term. We estimate that a higher proportion of gas being procured through pipelines would keep China gas prices at around CNY3 per cubic metre.
Currently, domestic conventional gas is priced at around CNY1.2 per cubic metre. The NDRC has been raising the city-gate level prices to increase the economic incentives for domestic gas production as well as to compensate for the higher share of LNG in the supply. Assuming domestic conventional gas and synthetic natural gas (SNG) prices converge with the current pipeline gas price at around CNY2.2 per cubic metre, a CNY3 per cubic metre price will allow approximately CNY1 per cubic metre on average as gas transmission costs in China. On this basis, the potential gas price increase between now and 2020 will be around CNY0.5 per cubic metre, which translates to a manageable price increase of around 3% a year through 2020.
Fitch views the latest pipeline gas deal as positive for domestic city gas operators such as China Resources Gas Group Limited and ENN Energy Holdings Limited in the long run. Securing a stable supply ensures their growth potential will be fully met as China's natural gas sector has historically been constrained by insufficient domestic supply. Stabilisation of gas price, on the other hand, reduces the risk of margin compression caused by increasing gas purchasing cost and delays in pass-through to end users. China substantially closing the demand-supply gap with pipeline supplies will also mean downward pressure on Asian LNG prices, which is positive for importers. We also believe this is beneficial for the profitability of CNPC's mid-stream gas supply operations.
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Tuesday, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
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- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Planning Commission, India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
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