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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, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
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Showing 6 to 10 news of total 6871 |
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- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- White Energy Company Limited
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
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