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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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Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
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- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
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