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