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Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unprecedented levels and global markets are buckling under the strain. Many countries are heavily reliant on imports of gas and high spot prices are making supplies unaffordable.
There is plenty of coal and gas in the world but current market volatility is crimping demand.
Gas prices haven’t gone up a little bit – they have multiplied. The increased volatility in gas prices globally is a feature that’s going to stay. There are going to be some extremely high prices and also some extremely low prices. That’s because we’re going through a total energy disruption at the moment, and with that, we’re seeing climate change responses.
Countries such as Japan have said that by 2030, they’re going to more than halve their use of LNG in their power sector. That means they will be putting supply effectively back into the market because they won’t be taking all their contracted gas.
On the other hand, there is enormous supply coming out of Qatar. It is looking to increase its LNG production by 64% by 2027. That’s a massive amount of LNG that will be coming onto the market looking for a home.
In January 2021, an IEEFA report noted that due to what was happening in the U.S., we were likely to see much higher prices this year, with prices forecast to double or even triple. That has come to pass. In the coming years we are likely to see increased volatility in prices as supply and demand struggle to find a balance.
Australia’s major clients are now looking at gas as a fuel exiting the energy system. Over time, we’re going to see them wind their way out of LNG. LNG will still form a niche fuel in terms of the need for it in manufacturing. However, gas will definitely go out of household usage in the short term and will be used less for electricity generation.
Australia has to look forward at energy sources of the future, not look backwards at energy sources of the past. Unfortunately, the country has chosen to look backwards and put all of its eggs in the ‘gas-fired recovery’ at the very time its customers are saying they don’t want the product.
This extract is from an interview IEEFA’s Bruce Robertson did with ABC’s Linda Mottram.
Source: IEEFA
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Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
Thursday, 23 September 21
RECORD-HIGH GAS PRICES AFFECT MANY EUROPEAN CORPORATE SECTORS - FITCH RATINGS
Record-high natural gas prices are putting pressure on supply chains of many European corporate sectors, including non-integrated energy suppliers, ...
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- Directorate Of Revenue Intelligence - India
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- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
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- Economic Council, Georgia
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- VISA Power Limited - India
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- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- Makarim & Taira - Indonesia
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- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
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- Energy Link Ltd, New Zealand
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- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
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- Attock Cement Pakistan Limited
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- Therma Luzon, Inc, Philippines
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- Wilmar Investment Holdings
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
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- Deloitte Consulting - India
- New Zealand Coal & Carbon
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- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
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- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
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- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
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