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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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Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
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- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
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