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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, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
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Showing 26 to 30 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- The University of Queensland
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
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