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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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Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
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