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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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Thursday, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
Wednesday, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China& ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
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- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- The University of Queensland
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
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