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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, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Showing 16 to 20 news of total 6871 |
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- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- White Energy Company Limited
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
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