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