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Coal is rallying, is now the time to buy?

Posted on 09 April 2014 by VRS  |  Email |Print

Ukraine has announced that they have taken back control of the facilities which were overrun by the pro-Russian forces recently. There are still those calling for Russia to send the troops into eastern Ukraine, but after the annexation of Crimea we have to imagine that Russia has very little political capital left to use for another deployment into Ukraine.
It made some sense to annex Crimea, however the argument to annex other areas of Ukraine is much weaker and would surely draw the ire of Europe and its allies. The tensions in Ukraine continue to buoy the gold market with the precious metal rising back above the $1,300/ounce level………………………………………..Full Article: Source

EU energy strategy must counter Putin’s fossil fuel-fed autocracy

Posted on 08 April 2014 by VRS  |  Email |Print

The role of climate and energy policy in the ‘long game’ that will play out between Russia and the west has been overlooked. Vladimir Putin’s land grab in Crimea has shocked the west into rethinking security strategy on the continent.
Michael McFaul, former US ambassador to Moscow, has rightly argued in the New York Times that Putin has made a strategic pivot, and has abandoned reform and partnership with the west for a campaign to consolidate autocratic power at home and erect an alternative to western liberal democracy for the nations in its “near abroad”………………………………………..Full Article: Source

EIA: Iran’s oil output at 3.2 mbpd in 2013

Posted on 07 April 2014 by VRS  |  Email |Print

US Energy Information Administration (EIA) announced that Iran produced 3.2 million barrels per day (mbpd) of oil in 2013 maintaining its 2nd rank in the Organization of Petroleum Exporting Countries (OPEC).
According to EIA’s latest Monthly Energy Review, Iran’s oil output shrank by 167,000 bpd in 2013, compared with that of last year, Tasnim News Agency reported. Iran’s crude oil production dropped by 687,000 bpd in 2012, which was the first year in which Western sanctions against Iran were enforced………………………………………..Full Article: Source

Natural Gas production to witness continued production growth

Posted on 07 April 2014 by VRS  |  Email |Print

Natural gas production in 2014 is expected to witness continued growth and the pace of growth will accelerate compared with last year, according to Barclays. This week the Energy Information Administration (EIA) reported that January Lower-48 natural gas production growth was significantly above expectations.
January gross withdrawals in the Lower-48 increased 0.35 Bcf/d, to 75.29 Bcf/d, in January 2014, according to the latest EIA Monthly Natural Gas Gross Production Report………………………………………..Full Article: Source

Investor risk rises as energy partnership world gets crowded

Posted on 07 April 2014 by VRS  |  Email |Print

High-yielding energy partnerships have lured billions in capital from investors in the past few years and the returns have often matched or beaten expectations.
But as riskier kinds of businesses adopt the Master Limited Partnership (MLP) structure, and as interest rates rise, investors are getting a wake-up call about some of the scary stuff lurking in the sector………………………………………..Full Article: Source

Energy industry told to face reality of global warming

Posted on 04 April 2014 by VRS  |  Email |Print

The UN’s top climate change official has issued an unusually blunt message to the oil and gas industry that it must radically overhaul its business model to meet the realities of global warming.
Three quarters of fossil fuel reserves need to stay in the ground if the world is to stop global temperatures rising beyond the internationally agreed limit of 2 degree Celsius, said Christiana Figueres, executive secretary of the UN Framework Convention on Climate Change………………………………Full Article: Source

Commodities today: Geopolitics pushing energy names higher

Posted on 04 April 2014 by VRS  |  Email |Print

Russia continues to use their natural gas to bully Ukraine, and this has to worry the rest of Europe, especially Western Europe, which has shied away from developing their own production to instead rely on Russian natural gas delivered over pipelines. Pipelines which travel through the Ukraine and could be cut off due to tensions.
We are not trying to be alarmists here, but these are important facts to understand in this high-stakes game of chicken. With Russia raising natural gas prices for Ukraine, we could see the situation escalate, as it has in the past, with supplies to Europe basically cut off………………………………Full Article: Source

World’s biggest coal terminal to review 2015 goal on power cut

Posted on 04 April 2014 by VRS  |  Email |Print

South Africa’s Richards Bay Coal Terminal is reviewing export targets for 2015 after a power cut in February forced it to reduce this year’s goal, the head of the world’s largest standalone export facility for the fuel said.
RBCT trimmed its forecast for shipments this year to 73 million metric tons from 75 million tons after it had to halt operations for almost 10 days in February because of faults on municipal power cables that cut supply, Chief Executive Officer Nosipho Siwisa-Damasane said. While it cleared the backlog by March 31, the facility, together with exporters and Transnet SOC Ltd., the state-owned ports and rail utility, faces losses of about 2.1 billion rand ($197 million)………………………………Full Article: Source

How American energy independence could change the world

Posted on 03 April 2014 by VRS  |  Email |Print

If the bookies are to be believed, Chelsea Clinton could turn out to be luckiest US president in history. The holy grail of American leaders over the past four decades, from Richard Nixon to Barack Obama, has been energy independence, and thanks to shale oil and gas, the dream could soon become reality.
The International Energy Agency (IEA) and oil giant BP certainly think so - they believe the US will be energy independent by 2035. As Mr Obama said in his State of the Union address last year: “After years of talking about it, we are finally poised to control our own energy future.”………………………………..Full Article: Source

The most profitable gas in the world

Posted on 03 April 2014 by VRS  |  Email |Print

There is only one certainty in Ukraine: The energy sector must and will be transformed, and how long this takes will depend on who ends up in the driver’s seat and how serious they are about becoming a part of Europe and reducing dependence on Russia. But by then, investors will have missed the boat.
The driving factor for any energy investor in Ukraine is the pricing environment. There is nowhere else in Europe—or some would even argue in the world—where you are going to get significant access to resources and potential resources for the price. Gas is selling at $13.66/Mcf, while it costs $4-$5 to produce and operate. That means producers are netting anywhere between $8 and $9/Mcf…………………………………Full Article: Source

Global energy thirst threatens water supplies, UN says

Posted on 24 March 2014 by VRS  |  Email |Print

Energy production will increasingly strain water resources in the coming decades even as more than 1 billion of the planet’s 7 billion people already lack access to both, according to a United Nations report.
“There is an increasing potential for serious conflict between power generation, other water users and environmental considerations,” said the UN World Water Development Report published today that focused on water and energy. Ninety percent of power generation is “water-intensive,” it said………………………………………..Full Article: Source

ETFs to help quench your thirst for water

Posted on 24 March 2014 by VRS  |  Email |Print

As energy production puts a strain on water resources in the coming decades, usable water will become an increasingly limited commodity. Investors can capitalize on the global thirst for water with exchange traded funds that focus on conservation and purifying potable water.
“There is an increasing potential for serious conflict between power generation, other water users and environmental considerations,” according to the UN World Water Development Report, Bloomberg reports………………………………………..Full Article: Source

How Obama could beat Putin playing energy geopolitics: Gas and oil are at the center of the struggle

Posted on 21 March 2014 by VRS  |  Email |Print

The White House’s first round of “sanctions” announced Monday against 11 individuals involved in Russia’s recent actions in Ukraine and Crimea evoked gales of laughter in Moscow, according to news reports. An embarrassed President Obama made a second try with additional penalties on Thursday.
Of course, President Obama’s defenders are quick to point out that our options in this case are limited. Certainly that is true of potential military steps. There is one alternative that could be a game changer, though: wielding the energy weapon against Russia, a country that has not hesitated to use that weapon to advance its own interests………………………………………..Full Article: Source

Global LNG demand set to tumble from April, China Coal demand weak: PIRA Energy

Posted on 21 March 2014 by VRS  |  Email |Print

NYC-based PIRA Energy Group believes that global LNG demand is set to tumble. In the U.S., Thursday’s EIA report highlighted the market’s continued above-normal reliance on inventories. In Europe, PIRA remains relatively unconcerned about a cut-off in gas flows through Ukraine. Specifically, PIRA’s analysis of natural gas market fundamentals has revealed the following:
Global demand is set to tumble starting next month and weak signals from key counter-seasonal markets like Brazil and India are emerging too. Spot price floors will be kept by a strong round of seasonal maintenance in Qatar in particular………………………………………..Full Article: Source

UK urges EU to cut energy reliance on Russia

Posted on 20 March 2014 by VRS  |  Email |Print

The British government is pushing EU leaders to back a new energy security plan to wean Europe off Russian energy over the next 25 years by ramping up imports from new sources, including shale gas from the US and natural gas from Iraq.
The proposal, distributed to European capitals ahead of a summit in Brussels beginning on Thursday, also calls for speeding up development of a pipeline route through Azerbaijan and Turkey that would bring gas to Europe from the Caspian Sea, avoiding Russian territory………………………………………..Full Article: Source

Oil and natural gas as weapon of war

Posted on 11 March 2014 by VRS  |  Email |Print

With Russia’s invasion of Crimea, the threat is greater than Vladimir Putin’s ambitions, the real danger to the world is that oil and natural gas are once again being used as a weapon of war. This isn’t the first time. When Russia cut off natural gas supplies in 2009 to Ukraine and six other countries in the middle of winter, millions were left in the cold until they paid Russia’s ransom in the form of higher prices.
It was a stark example how vulnerable Europe had become to Russia’s control over energy resources. I said at the time it should be a wake-up call to an America confronting its own foreign oil dependence issue and the national security and economic threats that come with it………………………………………..Full Article: Source

Energy-price concerns resonate in EU 2030 package talks

Posted on 05 March 2014 by VRS  |  Email |Print

The European Union should ensure that future climate and energy policies do not undermine the competitiveness of its industry, already weakened by a price gap with the U.S., the bloc’s member states said.
Energy ministers from the EU’s 28 nations had their first debate about 2030 carbon-reduction and renewable energy strategy at their quarterly meeting in Brussels. It followed yesterday’s gathering of environment ministers, where countries differed over how ambitious Europe’s emissions-cut target should be and how fast new policies should be adopted………………………………………..Full Article: Source

The petro states of America

Posted on 28 February 2014 by VRS  |  Email |Print

The Keystone XL pipeline should be an open-and-shut case from a climate perspective, the criterion President Obama has set for judging it. In a speech in June, he said he would approve the pipeline “only if this project does not significantly exacerbate the problem of carbon pollution.”
By that standard, this should be an easy, data-driven call to make. It hasn’t been. And the core reason the Keystone saga has dragged on inconclusively for years has little to do with the well-aired talking points both sides of the debate trot out on cable TV talk shows………………………………………..Full Article: Source

World energy issues

Posted on 27 February 2014 by VRS  |  Email |Print

Each year, the World Energy Council releases its World Energy Issue Monitor and highlights what the global energy industry needs to consider when developing and expanding. Below are brief discussions of some of those issues.
Uncertainty surrounding the global climate framework is top on many priority lists. Negotiations around policies and carbon tax as well as involvement in initiatives such as the Kyoto Protocol is never certain. The time frame in which decisions will be made is also uncertain as each individual nation has different criteria they wish to fill………………………………………..Full Article: Source

Germany must scrap its green energy law, say experts

Posted on 27 February 2014 by VRS  |  Email |Print

A commission of experts appointed by the German parliament has recommended Chancellor Angela Merkel’s government to abolish all subsidies for green energy, highlighting mounting opposition to plans to reform instead of scrap the system.
Economy and Energy Minister Sigmar Gabriel is finalising much-disputed changes to the Renewable Energy Law (EEG) which includes reductions in subsidies for green energy before he presents it to cabinet in early April………………………………………..Full Article: Source

Barclays pulls down shutters on European, U.S. power trading desks

Posted on 26 February 2014 by VRS  |  Email |Print

Britain’s Barclays Plc said on Tuesday it has closed its power trading desks in London and New York, joining a string of global investment banks that are paring down their commodity market activities as increased regulations bite.
Barclays, a top-five banking player in commodities trading which is in the process of shrinking its investment banking activities, said its “core commodities franchise continues to operate business as usual”………………………………………..Full Article: Source

Hedge fund natural gas wagers jump on tumbling supplies: Energy

Posted on 24 February 2014 by VRS  |  Email |Print

Hedge funds increased bullish bets on natural gas for the fifth time in six weeks as arctic weather stoked demand for the heating fuel, depleting stockpiles and sending prices to a five-year high.
Money managers’ net-long positions, or wagers on rising prices, jumped 5 percent in the seven days ended Feb. 18, to the highest level since May, U.S. Commodity Futures Trading Commission data show. Bearish bets slid 7.3 percent to the lowest level in more than two years………………………………………..Full Article: Source

Energy industry moving back to United States

Posted on 20 February 2014 by VRS  |  Email |Print

Congratulations! We live in the only country on Earth whose oil and gas production is increasing along with its reserves. America is enjoying an energy renaissance while the rest of world is suffering a decline in reserves and production and a corresponding increase in prices.
This is big news. Cheap, abundant, domestic energy affects everything from employment to cost of living, and from the environment to national security. It makes the U.S. more appealing to manufacturers. And our dependency on OPEC oil continues to decrease………………………………………..Full Article: Source

Australia to review renewable energy target

Posted on 18 February 2014 by VRS  |  Email |Print

Australia will review its mandatory renewable energy target (RET), the government said Monday, sparking concerns among green groups that a weaker target could pave the way for new coal plants and increased pollution.
The target to ensure Australia generates 20 percent of its electricity from renewable sources in 2020 has been a boon to the nation’s wind and solar producers, but has been blamed by the conservative Coalition government for increasing power prices………………………………………..Full Article: Source

Claims of high EU energy prices ‘overblown’

Posted on 07 February 2014 by VRS  |  Email |Print

Claims that high energy prices are making European industry less competitive are overblown according to new research showing a relatively small number of companies are affected and most get special protection.
“European economic competitiveness is not determined by energy prices,” says a study by a group of EU research bodies, the latest volley in a growing debate over whether climate and energy policies are sapping the bloc’s ability to compete………………………………………..Full Article: Source

Coking coal: Enhanced supply, bearish trend may cheer up steel industry

Posted on 07 February 2014 by VRS  |  Email |Print

The global supply of coking coal is expected to remain elevated in 2014, a trend that prevailed in 2013. Metallurgical coal – or coking coal – is a vital ingredient in the steel making process. Global steel production is dependent on coal and 70% of the steel produced today uses coking coal.
Enhanced global supply of coking coal in 2013, caused the continued prices decline of Premium Hard Coking Coal (PHCC), Hard Coking coal (HCC) and bearish global demand. But coking coal witnessed an increased global import rates; China, India and Japan importing million tonnes of coking coal, according to The Steel Index (TSI)………………………………………..Full Article: Source

Renewable energy: Little wonders

Posted on 31 January 2014 by VRS  |  Email |Print

In Germany local people hold stakes in about 40% of renewable generation. In Britain almost all of it is owned by big businesses. In 2010 the coalition government—then touting plans for a “big society” of active communities—promised support for groups that build their own low-carbon generators. On January 27th it tried to deliver the goods.
Community groups hope that having their own wind, solar and hydro projects will help cut carbon emissions and bring in cash for neighbourhood causes or for more green schemes. The government sees a chance to further national goals. A green-minded electorate is less likely to oppose big renewable developments and more likely to tolerate the impact of environmental policies, such as rising bills………………………………………..Full Article: Source

Coal becomes commods’ first victim of emerging-market woes

Posted on 31 January 2014 by VRS  |  Email |Print

The rout in emerging markets is starting to spill into commodities, with coal prices tumbling as much as 10 percent this month as utilities in developing economies slash orders. Commodity price developments often go hand in hand with growth in emerging economies, which consume more energy as their wealth rises.
“Commodity demand is more concentrated in fast-growing countries … The marginal buyer of commodities is very much the emerging world and it’s going through a bear market right now,” said Charlie Morris, head of absolute return at HSBC Global Asset Management, who oversees $1.8 billion in assets………………………………………..Full Article: Source

Energy price gap with the US to hurt Europe for ‘at least 20 years’

Posted on 30 January 2014 by VRS  |  Email |Print

High gas and electricity prices will continue to plague Europe for at least 20 years, damaging the competitiveness of industries that employ almost 30m people, the world’s leading energy forecaster has warned.
In findings likely to inflame claims EU climate change policies are damaging the bloc’s manufacturers, the International Energy Agency said Europe will lose a third of its global market share of energy-intensive exports over the next two decades because energy prices will stay stubbornly higher than those in the US………………………………………..Full Article: Source

Coal will ‘dominate global power sector for decades’

Posted on 30 January 2014 by VRS  |  Email |Print

Coal will dominate the power sector globally for decades to come, according to a paper that miners say undermines campaigns by green activists to “demonise” coal.
The paper - written by an International Energy Agency consultant and to be sent to Industry Minister Ian Macfarlane - says coal will remain the dominant power-sector fuel for at least the next quarter of a century despite efforts to diversify power sources and concerns about slower economic growth………………………………………..Full Article: Source

Citigroup expands in Europe energy markets

Posted on 30 January 2014 by VRS  |  Email |Print

Citigroup Inc. (C) is increasing its gas and power business in Europe as competitors from Bank of America Corp. (BAC) to Deutsche Bank AG withdraw amid tighter regulation and staff cuts at utilities.
The third-largest U.S. bank expanded its trading team in Europe last year while other firms cut headcount, Stuart Staley, global head of commodities, said in a phone interview from London. His group now employs 10 people in power and gas trading and sales in the region………………………………………..Full Article: Source

Why following EIA forecasts is dangerous for the US

Posted on 27 January 2014 by VRS  |  Email |Print

Think back to early 2004. Oil cost around $40 per barrel—on the high side compared to the previous few decades but not much out of the ordinary. Gasoline still cost under $2.00 a gallon for most of the country. The evening news was more concerned with wardrobe gaffes by Janet Jackson (too little, at the Super Bowl) and President Bush (too much, on the USS Abraham Lincoln) than with energy prices.
In retrospect, these were the last days of “normal.” Almost everyone in business, the media, and government assumed that the world had plenty of cheap oil………………………………………..Full Article: Source

European Commission to ditch legally-binding renewable energy targets

Posted on 23 January 2014 by VRS  |  Email |Print

Climbdown on setting mandatory national targets, enforced in the EU courts, will be welcomed by Britain. The European Commission is to ditch legally-binding renewable energy targets after 2020 in a major U-turn and admission that the policy has failed industry and consumers by driving up electricity bills.
A Brussels paper on the European Union’s “2030 framework for climate and energy” will instead propose binding targets to reduce carbon emissions without imposing requirements on how the reductions are made………………………………………..Full Article: Source

Momentum still split between energy and precious metals

Posted on 23 January 2014 by VRS  |  Email |Print

A sharp and exceptional split in short-term momentum between the energy and precious metal sectors is continuing into a second week. The four metals, led by platinum, are all among the top five performers this month while the energy sector holds on to negative momentum.
Some signs of a break-up are now starting to emerge, with the recent recovery in both WTI crude and natural gas having the potential of a return to positive strength — but not yet………………………………………..Full Article: Source

Oil demand to rise as global economy recovers, energy watchdog says

Posted on 22 January 2014 by VRS  |  Email |Print

International Energy Agency (IEA) forecasts growth in oil consumption of 1.3m barrels a day, with demand met from production by the US and Opec countries. Global oil demand will increase more quickly this year as economic growth accelerates, outstripping supply even as shale oil production in the United States reaches record highs, the west’s energy watchdog said on Tuesday.
The International Energy Agency (IEA) said world oil consumption would increase by 1.3m barrels per day (bpd) this year, 50,000 bpd higher than previously forecast……………………………..Full Article: Source

Main elements of EU 2030 energy and environment policy

Posted on 21 January 2014 by VRS  |  Email |Print

The European Union will publish new long-term goals on Wednesday for curbing climate change, marking the start of a long process to fix them in EU law.
Apart from providing guidance for EU member states and their industries, the targets are significant in the context of global climate change talks, which Europe has sought to lead………………………………………..Full Article: Source

Why EIA, IEA, and randers’ 2052 energy forecasts are wrong

Posted on 17 January 2014 by VRS  |  Email |Print

What is the correct way to model the future course of energy and the economy? There are clearly huge amounts of oil, coal, and natural gas in the ground. With different approaches, researchers can obtain vastly different indications. I will show that the real issue is most researchers are modeling the wrong limit.
Most researchers assume that the limit that they should be concerned with is the amount of oil, coal, and natural gas in the ground. This is the wrong limit. While in theory we will eventually hit this limit, because of the way fossil fuels are integrated into the rest of the economy, we hit financial limits much earlier………………………………………..Full Article: Source

BP forecasts slower growth in global energy demand

Posted on 16 January 2014 by VRS  |  Email |Print

Global demand for energy will grow at a slower pace over the next two decades, a report from the oil giant BP predicts. BP’s Energy Outlook says energy demand will rise by 41% between now and 2035 - less than the 55% growth seen over the past 23 years.
It said increased fuel efficiency in developed economies was behind the predicted slowdown. But demand from emerging economies is expected to continue to rise strongly………………………………………..Full Article: Source

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Global investment in clean energy falls for second year running

Posted on 16 January 2014 by VRS  |  Email |Print

New figures show investment fell to $254bn in 2013, with a drop in Europe of 41%. Global investment in clean energy fell for the second year in a row to $254bn last year, with green investment in Europe crashing by 41%, new figures showed on Wednesday.
The drop casts a pall over a high-profile investor summit at the United Nations on Wednesday. The summit, organised by the Ceres investor network, was supposed to build momentum for the shift to a clean energy economy – a transformation requiring global investment of some $1 trillion a year by 2030………………………………………..Full Article: Source

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Over the hump for oil demand

Posted on 15 January 2014 by VRS  |  Email |Print

The history of energy in the 20th century was mainly about oil; the struggle to find oil, to secure its supply and bring it to market. So important has been oil and its many by-products in fuelling, lubricating and transforming economies and societies over the past 100 years that many have failed to notice trends that are already changing the shape of energy demand in the 21st century.
The developed world is using much less oil. Consumption in the OECD is in long-term decline: in 2012 the industrialised countries used the same amount of oil as they did in 1995; today’s European Union countries are back at consumption levels last seen in 1967………………………………………..Full Article: Source

In 2014, world races to join shale energy boom

Posted on 15 January 2014 by VRS  |  Email |Print

The shale genie is out of the bottle, Warren writes. US production in shale oil and gas offers lessons learned for countries desiring to exploit their own energy resources.
In oil markets, the year 2014 already looks to repeat 2013 with some important differences. Unpredictability in the commodities’ extraction and delivery, political risk, and policy risk may play a bigger role in 2014. The potential lifting of the crude oil export ban, which the industry and some lawmakers desire, may also stir up the market………………………………………..Full Article: Source

Uranium bull market to gather steam over next 18 months - Scotiabank

Posted on 14 January 2014 by VRS  |  Email |Print

Scotiabank analysts are bullish uranium. They have been for some time. As we noted in early 2013, Patricia Mohr, Scotiabank’s vice-president economics and commodity market specialist, made the case that uranium prices, decimated by the 2011 Fukushima Dai-Ichi nuclear disaster, would rebound mid-decade.
It’s not a position that has changed. In her latest commodities report on December 19, 2013 she labelled uranium a “turnaround story” for the mid-2010s. Her thesis - as outlined at the AME BC Roundup conference last year - is heavily contingent on three factors:……………………………………….Full Article: Source

EU urged to set 2030 renewable energy target by ministers

Posted on 08 January 2014 by VRS  |  Email |Print

Ministers from Germany, France, Italy and five other countries call for new renewable energy target in addition to carbon goal. Ministers from Germany, France and six other countries have called for the European Union to set a 2030 goal for renewable energy use, in opposition to their British counterpart who advocates a sole greenhouse gas emissions target.
A 2030 renewables goal, which would be part of a package of EU measures on energy and climate change, would cut dependency on fossil fuel imports and boost jobs and economic growth, the group of ministers said in a letter dated 23 December 2013 and seen by Reuters………………………………………..Full Article: Source

Predictions for 2014: Energy is anything but conventional

Posted on 30 December 2013 by VRS  |  Email |Print

With dramatic new sources of both supply and demand emerging across the globe, energy is poised to get even more unconventional in 2014. What’s next for oil, gas, and renewables? In energy, next year promises to be just as unconventional as the last.
North America’s boom in unconventional oil and gas will continue to expand and the shale success could spread elsewhere. Easy-to-reach conventional oil is dwindling, but 2014 could see a reprieve as production from Iraq, Libya, and other war-torn oil nations seems to be stabilizing. And easing relations with Iran has the potential to bring major amounts of oil back onto global markets………………………………………..Full Article: Source

Global coal demand growth slows

Posted on 20 December 2013 by VRS  |  Email |Print

Growth in global coal demand will slow over the next five years as consumption in China, the US and Europe are expected to ease, according to the International Energy Agency (IEA). In its Medium-Term Coal Market Report, the IEA said that in the period to 2018, global coal demand will grow by 2.3% per year, reaching almost 9 billion tonnes. This is down from its previous forecast annual growth rate of 2.6% over the same period.
Between 2007 and 2012, global coal demand grew by an average of 3.4% per year, the IEA said. However in 2012 the growth in global coal consumption dropped to 2.3% year-on-year, reaching 7.7 billion tonnes………………………………………..Full Article: Source

Global coal demand growth seen moderating between 2013 and 2018 -IEA

Posted on 17 December 2013 by VRS  |  Email |Print

Tougher Chinese policies aimed at reducing the nation’s dependency on coal and curbing pollution will help moderate global coal demand growth over the next five years, said a leading world energy watchdog Monday.
The International Energy Agency said in its Medium-Term Coal Market Report that coal is forecast to grow at an average of 2.3% a year through 2018 compared with the 2012 report’s forecast of 2.6% for the five years through 2017 and the actual growth of 3.4% a year between 2007 and 2012. Coal is forecast to be the fossil fuel with the largest growth in absolute terms up to 2018, although natural gas demand is forecast to grow at 2.4% a year over the same period………………………………………..Full Article: Source

Five graphs that tell the future story of coal

Posted on 17 December 2013 by VRS  |  Email |Print

International demand for coal is only going in one direction: up. Radical action to stall the growth of coal and curb the growth in greenhouse gas emissions is off-track, according to the International Energy Agency (IEA).
The IEA’s latest five-year outlook predicts coal consumption will grow at an average 2.3 per cent per year. The world will burn almost nine billion tonnes of coal per year by 2018, the agency predicts. Despite efforts from the Chinese government to encourage more efficient use of energy and more power from renewables, China will account for nearly 60 per cent of the predicted growth………………………………………..Full Article: Source

Morgan Stanley: LNG will turn Australia into an energy superpower by 2017

Posted on 17 December 2013 by VRS  |  Email |Print

Morgan Stanley believes that by the middle of the decade Australia will be a global energy superpower thanks to increases in its natural gas exports, allowing it for the first time in nearly 40 years, to eliminate a current account deficit.
They expect LNG production to increase vastly as huge projects start to come online and turn Australia into the world’s largest exporter of LNG by 2017, overtaking Qatar………………………………………..Full Article: Source

Australia to be an energy ’superpower’

Posted on 16 December 2013 by VRS  |  Email |Print

Australia is to become a global gas superpower by the middle of the decade and eliminate its current account deficit for the first time in almost 40 years, according to Morgan Stanley. ”Liquefied natural gas (LNG) exports from Australia could be the next big thing,” said the bank in a new report.
It predicted a ”huge ramp-up” in LNG output that could transform the country’s economy, claiming that Australia could overtake Qatar to become the world’s biggest exporter of LNG as soon as 2017, rather than 2030 as widely assumed………………………………………..Full Article: Source

China’s changing coal consumption threatens Australia

Posted on 16 December 2013 by VRS  |  Email |Print

China’s changing coal consumption is threatening the existence of Australian coal mines. As China rallies to war to work for cleaner air, the most visible casualties of this war would be the Australian coal mines which are at risk of getting stranded, if not all together abandoned.
“Demand below expectations, and lower coal prices as a result, would increase the risk that coal mines, reserves and coal-related infrastructure could become mothballed or abandoned,” a new study by Oxford University, commissioned by HSBC Bank, said………………………………………..Full Article: Source

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