In 2021, GHG emissions from the power sector rose by more than 8.3%, as the economic recovery fuelled the electricity demand - it returned to its 2019 level - and as the surge in European gas prices incited power generation groups to shift from gas to coal.

The draft Power Master Plan VIII expects the installed power capacity in Vietnam to more than double between 2020 (around 70 GW) and 2030, when it should reach 146 GW.

"The document says the rule is about HS codes, so it is applicable to all origins," a South Korea-based source said. "This should help Russian coal demand more than other origins because it is already at a discount to other origins."

Sources said Pakistan is looking at countries like Afghanistan and Tajikistan given the significant price difference compared to the South African coal, which accounts for around 70% of Pakistan's imports.

Sources said that India bought 5,500 kcal/kg NAR coal from Russia at $160-$165/mt CFR India for an April-loading Capesize ship in the week ended April 16, adding that the freight between Russia and West coast India was at around $35-$36/mt.

China churned out 395.79 million tonnes of coal last month, data from the National Bureau of Statistics (NBS) showed on Monday, equivalent to 12.77 million tonnes per day.

The Brent price will average $108/b in 2Q22 and $102/b in the second half of 2022 (2H22).

Japan typically takes high-CV, low-ash coal from Russia

The German year-ahead baseload traded as high as Eur197.75/MWh, a new high for the 2023 contract, while year-ahead coal into Europe traded at $230/mt, EEX and ICE exchange data showed.

Novak is Russia's key negotiator in the OPEC+ group, which has resisted calls from consumers to increase production.

The Ministry of Energy and Environment plans to double lignite production and to review its phase-out plan for lignite-fired power plants.

The new round includes an import ban on coal from Russia worth Eur4 billion/year ($4.38 billion/year) and a ban on Russian vessels and Russian-operated vessels from accessing EU ports, allowing for certain exemptions such as agricultural and food products, humanitarian aid as well as energy.

According to the Turkiye Climate Change Perception Report, 79% of the participants see renewable energy as a good opportunity for economic development and 75% of them favor renewables for increasing the country's exports.

According to data compiled by the U.S. Bureau of Economic Analysis, the Consumer Price Index (CPI) for ‘Energy’ in February 2022 was 25.6% higher than in February 2021, which is more than triple the increase of the CPI for ‘All Items,’ which was 7.9% higher over the same period.

Acceleration of the energy transition is essential for long-term energy security, price stability and national resilience.