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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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Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
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- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
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