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Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
 Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per day (mcm/d) – 40% of the pipeline’s overall capacity. The European gas market has reacted, with prices down by 5%; but the stability of Russian gas flows is by no means a given, according to analysts at Wood Mackenzie.
Penny Leake, Research Analyst for Europe Gas and LNG at Wood Mackenzie, said: “Further disruptions are expected as Russia seeks to increase political and economic pressure on Europe as winter approaches.”
“It remains unclear what Russia will do. There is a risk that Nord Stream flows will reduce below the 40% capacity seen before the maintenance,” Leake added.
This way, Russia will continue receiving revenues from gas exports, disincentivising the much-needed early gas rationing recommended across Europe, thus exposing countries across the continent to more pressure this winter.
Wood Mackenzie has defined two scenarios for what may come for Russian gas flows and their impact on Europe in the coming months.
Scenario 1: Nord Stream flows remain at 40% of capacity
If Nord Stream flows remain at 40% of capacity and imports through other routes remain at the levels seen since 17 June (before Nord Stream maintenance), Europe will be able to refill storage to more than 80% by 1 November 2022.
Leake said: “Gas demand is expected to be 12% lower than previous winters, due to high prices and demand mitigation measures, including the re-introduction of old coal plants, and Wood Mackenzie anticipates Europe will be able to get through the heating season with a comfortable level of storage under normal weather conditions.”
A cold winter in both Europe and Asia could however result in up to 20 billion cubic metres (bcm) of additional demand (7% of total) and reduce availability of LNG for Europe. This could bring storage levels down to approximately 10 bcm by the end of March 2023 – the minimum level Wood Mackenzie analysis indicates is required to ensure appropriate functioning of storage facilities.
“As a result, some limited demand curtailment may be required to manage peak demand episodes, unless additional supply is secured,” Leake added.
Scenario 2: Nord Stream flows reduce to zero, but Russian flows through other routes continue
If Nord Stream flows reduce to zero by August this year, Europe will only be able to refill its storage to 70-75% by the start of winter, and could finish the heating season with only approx. 10 bcm of gas in storage, risking some demand curtailments.
However, if winter is unusually cold in Europe and Asia, there is a risk gas in storage could run out by the end of February 2023, according to Wood Mackenzie’s analysis. With Europe risking as much as 20 bcm of demand curtailments – the equivalent of 7% of total gas demand or 30-35% of all industrial demand in winter.
Leake said: “Under these conditions, the only material upside that could limit demand curtailments would be bringing back production at Groningen – which brings with it political challenges.”
In all scenarios, the impact will differ by countries. The ones most dependent on Russian gas, such as Germany, Austria, and Central and Eastern Europe, will be most exposed.
“One thing is clear – volatility and uncertainty will persist, meaning that demand and solidarity measures across Europe are required now so we can avoid leaving European gas balance to chance,” Leake concluded.
Source: Wood Mackenzie
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Friday, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
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Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- PTC India Limited - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
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