The European Commission has adopted a decision imposing transmission system operator (TSO) TenneT to increase the electricity trading capacity between Western Denmark and Germany and to ensure a specific guaranteed capacity available at all times. This announcement ends the formal investigation opened in March 2018 to check whether TenneT infringed EU antitrust rules by systematically limiting southward capacity at the power interconnection between the two countries.
Polish coking coal producer JSW (Jastrzębska Spółka Węglowa) has unveiled plans to increase its output by 2.5 Mt/year to 3 Mt/year through acquisitions. Its 2030 production target has been set at 18 Mt/year, much above the current 14.8 Mt/year (including all types of coal). However, the share of thermal coal in its production will dwindle from the current 25% to 10%. The group will focus on coking coal, betting on the rising needs of the European steel industry.
Global commodity trading company Vitol has signed a Heads of Agreement (HoA) paving the way for a long-term LNG sale and purchase (SPA) agreement with the Malaysian oil and gas company Petronas. As per the transaction, Petronas will supply 0.8 Mt/year (about 1.1 bcm/year) of LNG to Vitol on both delivered ex-ship (DeS) and free on board (FOB) basis starting from 2024 and for a 15-year period. The LNG supplies are expected to come from the LNG Canada facility in Kitimat, British Columbia (Canada) along with other assets in Petronas' portfolio.
India, the third largest crude oil importer worldwide, currently has surplus refining capacity and rarely imports oil products. However, the government forecasts that the upcoming wave of refinery shutdowns required for the introduction of new fuels compliant with Euro VI emission standards by 2020 may temporarily dent oil demand and push the country into importing refined fuels starting from 2019. The demand for refined fuel produced by India's privately-run refiners is also likely to increase significantly to fill the gap.