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