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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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- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
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