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Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
 Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
Indonesia): Air Products & Chemicals and the Indonesian government’s deal on coal gasification projects has triggered a looming policy conflict because it may be impossible to meet the business interests of all parties, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA).
Air Products, a U.S.-based industrial gas company, recently signed additional memoranda of understandings reportedly worth US$15 billion for coal gasification projects in Indonesia. Two of the gasification plants would be used to create dimethyl ether (DME) as a substitute for Indonesia’s domestic liquefied petroleum gas (LPG) imports.
“Many optimistic statements have been made about Air Products’ downstream coal plan in Indonesia,” says Ghee Peh, an IEEFA energy analyst and the report’s author. “But it may be hard for all of the parties involved to realize their dreams.”
The report focuses on a previously announced $2.1 billion project to build a DME plant in Sumatra (which was the subject of a November 2020 IEEFA report). All parties—coal supplier Tambang Batubara Bukit Asam (PTBA), DME plant operator Air Products, and DME offtaker Pertamina—are unlikely to achieve their objectives at the same time. It would require a scenario that includes reduced stranded asset risks, low-risk fixed returns to pay for the DME plant, and selling DME for a profit.
Air Products’ business model is to cut out commodity price risks, effectively insulating returns. PTBA’s DME project could make this low-risk business model difficult to implement, and the conflict could be passed on to the off-taker, Pertamina.
A higher DME purchase price would mean a government subsidy for Pertamina so that the DME can be sold at an affordable price for Indonesian households.
Further compounding the economic unviability of the proposed projects is the difficulty in calculating DME prices, because coal, LPG and oil prices all move in the same direction.
“Over the last 20 years, the DME price has been cheaper than LPG for 15 months, or about 6% of the period, on an ‘apples to apples’ basis,” says Peh.
IEEFA’s report suggests that a government subsidy similar to the current LPG subsidy from Indonesia’s Ministry of Finance is necessary for DME because of its high production cost of US$601/tonne, which includes a 15% DME production margin for Air Products.
“From the government’s point of view, the savings only work when the LPG price is above a certain level—about US$858/tonne,” says Peh. “Since this has only happened for 6% of the last 20 years, the DME project in its current form would not be able to justify any savings, nor would it be able to satisfy all four stakeholders at once.”
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Tuesday, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
Tuesday, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
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- Eastern Energy - Thailand
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- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Planning Commission, India
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- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- MS Steel International - UAE
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