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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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Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
Saturday, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
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- White Energy Company Limited
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- London Commodity Brokers - England
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
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