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