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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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Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
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- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Australian Coal Association
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
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