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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, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
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- Planning Commission, India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- White Energy Company Limited
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
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