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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, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
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Showing 21 to 25 news of total 6871 |
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- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
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