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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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Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
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- White Energy Company Limited
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
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