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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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Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
Tuesday, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
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- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
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