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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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Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
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Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
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- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
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