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Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
 The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy strategy and policy. And as Europe searches for viable alternatives to Russian gas, LNG seems the most popular solution to plug the supply gap. But LNG prices are rising fast, and contracting patterns are changing. Could there be other, more local, longer-term supply options?
A decade ago, Europe hosted some of the most active unconventional gas exploration programmes outside North America. Then the commodity downturn in 2015 – combined with some high-profile dry holes – brought a swift end to almost all of Europe’s onshore exploration.
Is it possible that shale exploration could come back into vogue as Europe searches for alternative gas supply?
In a recent video we talked through the potential for unconventional gas to eventually become a meaningful part of the solution to Europe’s gas supply problem – and the numerous barriers. Fill in the form to access the film and read on for some highlights from the discussion.
Russia’s war with Ukraine changed the game
Europe’s gas balance has changed fundamentally as a result of the conflict. In January-August 2022, Europe’s imports from Russia totalled only 55% of the volumes in the same timeframe last year.
Europe no longer has any illusions about the reliability of Russia as a gas supplier. Diversifying supply has become an imperative. So, without Russian imports, how much more gas does Europe need?
In a hypothetical scenario where the EU stops importing Russian gas by the end of 2023, the next couple of years would see record high import requirements. But longer term, there is significant uncertainty around demand – with a range of up to 100 bcm in terms of potential requirements. If demand remains resilient, we forecast that the supply and demand gap would be about 300 billion cubic metres (bcm). In a scenario where Europe’s recent decarbonisation and diversification plan, the REPowerEU, is successful, that gap would be closer to 210 bcm.
In either scenario, Europe will turn to LNG to plug the gap. In the next couple of years, it will need to compete with Asia for limited supply – all while LNG prices are rising.
That could open the door to alternatives like unconventional gas. But has the opportunity for European shale closed indefinitely after the last round of failed exploration? And can these options be delivered fast enough, before demand risks increase?
European shale has vast potential, but there has been no material production
Ten years ago, exploration and appraisal work across Europe spanned from Poland to the UK, Sweden, Germany and Austria. Target plays were shale and tight gas sands, which both had huge resource potential. Parallels to booming US unconventional gas supply were drawn, aided by some European shale plays showcasing excellent geologic and geochemical properties.
However, none of the in-place gas volumes were commercialised, and in five years of evaluation not much drilling and completion progress was made. Even in the UK and Poland, where activity was the most promising, only a few wells were finished, and sky-high costs coupled with management fatigue in the 2015 downturn stalled the projects.
In the current race to find alternative gas sources, could the tide be turning? The UK and Germany are both reportedly discussing lifting national bans on hydraulic fracturing. That would be a bold move that would set the stage for shale gas pilots again.
Would investors and E&Ps still be interested?
In the first round of European shale gas exploration, many of the Majors led this activity.
Now though, the Majors have shifted their unconventional focus to the Permian, or in some cases, scaled back global shale projects completely. Their shale portfolios appear to be largely set: they are unlikely to want more exposure to new unconventional assets.
Source: Wood Mackenzie
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Monday, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired ge ...
Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
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- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
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