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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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Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
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- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Parliament of New Zealand
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- The University of Queensland
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
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