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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 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- The University of Queensland
- ICICI Bank Limited - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
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