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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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- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
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