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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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- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
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