 
|
Signature Sponsor
March 3, 2026 - Power-station coal prices jumped the most in three years as an unprecedented shutdown of Qatar’s liquefied natural gas plant raised the needs for fuel-switching in the electricity sector. Newcastle coal futures, the Asian benchmark, jumped 8.6% to $128.70 a ton on Monday. That was the highest price for a front-month contract since December 2024.
Thermal Coal Surges After Qatar LNG ShutdownLess gas will prompt fuel substitutions in the power sector
Qatar halted production at the world’s largest LNG export facility on Monday after it was targeted in an Iranian drone attack. The Ras Laffan plant accounts for about a fifth of global supply, and had previously never completely ceased output in its 30-year history.
The shutdown caused European gas prices to spike 39%, the most in four years. In Asia, where many countries are heavily dependent on LNG from Qatar, Taiwan said it will increase use of coal power plants if the outage lasts long enough to disrupt gas supplies.
Shares in Australian coal producers jumped on Tuesday. Whitehaven Coal Ltd. and New Hope Corp. both rose more than 5% in Sydney at one point, making them among the best performers on the S&P/ASX 200 index.
|
|