India's largest coal handling agency - Mjunction

INTERNATIONALwhole, EIA expects a 4.7 percent increase in total annualconsumption of electricity across all sectors during 2010.Oil consumptionThe latest report of the agency said that oil consumptionglobally is likely to grow by 2 million barrels per day (bbl/d)to 86.33 million bbl/d, which is higher than the forecast madein its previous report of 86.06 million bbl/d.EIA has revised world oil consumption growth in 2010upward in response to stronger-than-expected growth inEuropean oil demand during the second and third quarters of2010, as well as continued strong growth in China. The non-OECD regions, especially China, the Middle East and Brazil,are the areas where most of the expected growth in world oilconsumption in 2011 is slated to take place.Among the OECD regions, EIA expects North America torecord almost all the oil consumption growth in 2011, with again of nearly 0.4 million bbl/d. In 2011, EIA expects globaloil consumption growth to the tune of 1.4 million bbl/d. Theagency has made slight changes in projections on increase inoil consumption for 2011, which is expected to grow to 87.77million bbl/d from 87.44 million bbl/d projected last month.TradeEIA’s November estimate suggests that US coal exports willbe around 76.5 million s.t in 2010 and 74 million s.t in 2011,similar to that estimated in their October report. EIA expectstotal coal exports to increase by 30 percent in 2010, but declinein 2011 as other major coal-exporting countries increase theirsupply to the global coal market. Strong global demand forcoal, particularly metallurgical coal used to produce steel,has resulted in sharp increases in the US coal exports in 2010.Metallurgical coal exports have nearly doubled in the firsthalf of this year compared with the first half of 2009, andmetallurgical coal’s share in total coal exports has grown from52 percent in 2008 to a projected 73 percent in 2010.The latest report projected that 2010 coal imports by the USwill come down to 18.9 million s.t, as compared to the previousyear’s imports of 22.6 million s.t. This month’s projection ofimports is similar to that forecasted in October. Also, the 2011imports are similar to the levels forecasted in the previousmonth’s report at 25.9 million s.t.India, US to set up joint green research centreCoal Insights BureauIndia and the US have agreed to set up a green energyresearch and development centre in India, with eachcountry funding $5 million for the next five years. Thisdeal was inked during the recent visit of US PresidentBarack Obama, to India. The focus of the centre is likely torevolve around solar energy, energy efficiency, biofuels,clean coal technology and an integrated gasificationcombined cycle project that turns coal into synthesis gas.It was in November 2009 that the concept of such acentre was first agreed upon during the Indian PrimeMinister Manmohan Singh’s state visit to Washington.Obama has been quoted as saying that: “We can pursuejoint research and development to create green jobs; giveIndia more access to cleaner, affordable energy; meet thecommitments we made at Copenhagen and show thepossibilities of low-carbon growth.”He also mentioned that with his visit, the countryis now ready to begin implementing their civil nuclearagreement which will help India to meet its growingenergy needs. The agreement between the two countriesfor cooperation on peaceful uses of nuclear energy wassigned in October 2008.During Obama’s visit both the countries also signedan agreement on shale gas cooperation. The agreementincludes a resource assessment in India conducted bythe US Geological Survey, technical studies on shale gasexploration in India and training of Indian personnel inshale gas exploration and development.Recently the minister for petroleum and naturalgas Murli Deora mentioned about huge tract of Indiansedimentary areas, yet unexplored which would createopportunities for global players to venture into the shalesector. Moreover, as 75 percent of its crude oil needs arecatered by imports in India, it is important to explore theIndian Sedimentary Basin to bridge the gap.According to recent market reports, India aims tolaunch the first round of auction of shale gas-bearingareas by the end of 2011.This is the second joint green energy research anddevelopment agreement by the US government. Last yearin November a similar agreement was made by Obamawith China during his visit to Beijing. This US-ChinaClean Energy Research Centre will facilitate joint researchand development of clean energy technologies by teamsof scientists and engineers from the US and China with abudget of $150 million over five years.This was also inclusive of carbon capture and storageand some deals with US firms such as General Electric andPeabody Energy.The former would help promote IGCC technology inChina; and the latter will invest in GreenGen, the Chineseequivalent of the FutureGen clean coal project in the US.COAL INSIGHTS 43 November 2010