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