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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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Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
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- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
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