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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, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
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- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Commonwealth Bank - Australia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
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