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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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Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
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- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Australian Coal Association
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
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