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Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
 The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a year earlier. European natural gas and South African coal prices reached all-time highs in March and April, while U.S. natural gas prices reached their highest level since 2008. The surge in prices partly reflects the impact of the Russian invasion of Ukraine; in 2020, Russia accounted for one-quarter of global exports of natural gas and just under one-fifth of coal exports. Beyond the impact of the war, demand for natural gas and coal has been robust, rising by about 5 and 6 percent, respectively, in 2021 amid a strong post-pandemic recovery, with both reaching record highs.
The war in Ukraine is disrupting trade in energy. Europe relies heavily on Russia for imports of natural gas and coal. In response to the war, the European Union imposed a ban on imports of Russian coal starting in August 2022 and has pledged to reduce imports of Russian gas by two-thirds by the end of the year. While some of Russia’s coal can be redirected to other countries, this will be costly as coal is bulky and expensive to transport. Redirection of natural gas is even more limited due to a lack of transportation infrastructure — 70% of Russia’s exports to Europe are by pipeline.
EU turns to alternative LNG suppliers. The EU has sharply increased its imports of liquefied natural gas (LNG) to rebuild depleted inventories and diversify its suppliers. Inventories have risen rapidly in the last few months, although they remain slightly below the five-year average. In addition, EU countries are investing in additional infrastructure to facilitate LNG trade, such as new terminals, and the EU has also announced plans to sharply increase renewable energy capacity. Energy policies in Europe, however, have large spillover effects on other countries. For example, the sharp increase in EU imports of LNG has forced other countries that rely on LNG, notably emerging markets in Asia, to turn to coal.
Amid high prices, U.S. exports of LNG soar. The United States exported 11.5 billion cubic meters per day in the first half of 2022, a record high and equal to 12% of its domestic production. U.S exports to the EU and the United Kingdom have more than tripled compared to last year, such that Europe accounted for about three-quarters of U.S. LNG exports in the first half of 2022. The increase in U.S. LNG exports reflects the high spot prices of European natural gas compared to both the U.S. and Asia prices. U.S. LNG exports have recently declined, however, due to an explosion at a major LNG terminal. This disruption to supplies is expected to last until October.
Coal production rises amid high prices and shortages. Although global coal production increased by nearly 6% in 2021, coal shortages in China and India led to policies aimed at increasing domestic production. Because the coal (and natural gas) shortages have persisted, additional policy measures were introduced earlier this year. India, for example, announced plans to reopen 100 coal mines that had previously been considered uneconomic.
Risks to the natural gas and coal outlook. After a projected sharp increase in 2022, natural gas and coal prices are expected to moderately decline in 2023, although they will remain much higher than their five-year average. The duration of the Russia-Ukraine conflict and the extent of its disruption to trade in coal and natural gas are the biggest uncertainties facing the outlook for the market. A sharp reduction in Russia’s exports to the EU, for example, could cause prices to spike, particularly if it occurred during the winter period when demand is high. Exports of natural gas from Russia to Europe have already fallen due to maintenance and other technical issues with the Nord Stream 1 pipeline. Prices also remain vulnerable to weather-related conditions and import policies that can affect trade patterns and push up costs. This is particularly the case given the very limited global spare production capacity for natural gas.
By Peter Nagle & Kaltrina Temaj
World Bank
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Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
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- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Australian Coal Association
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
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