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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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Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
Friday, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
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- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Planning Commission, India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
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