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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, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
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Showing 21 to 25 news of total 6871 |
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- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Eastern Energy - Thailand
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
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