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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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Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
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- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
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