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Column: Coal and LNG's surge in Asia plays into renewable energy hands


5 minute read
Liquefied natural gas (LNG) storage tanks are seen at the Sinopec Tianjin LNG receiving terminal in Tianjin, China October 22, 2018. REUTERS/Stringer
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for the commodity producers, the rally is a longer-term boon to their main rival, renewable energy.
Spot LNG prices have nearly doubled since the post-winter low of $5.60 per million British thermal units (mmBtu), ending last week at $10.95.
The rally has mainly been driven by increased demand, with the volume of the super-chilled fuel being discharged at Asian ports reaching 22.33 million tonnes in May. That was up from April s 20.81 million and well above the 18.96 million from May 2020, according to vessel-tracking data compiled by Refinitiv. ....

United Kingdom , South Korea , Australian Energy Market Operator , Newcastle Port , ஒன்றுபட்டது கிஂக்டம் , தெற்கு கொரியா , ஆஸ்திரேலிய ஆற்றல் சந்தை ஆபரேட்டர் , நியூகேஸில் போர்த் ,