RUSSIA: US$400-billion gas deal with China faces a raft of challenges

(EnergyAsia, August 29 2014, Friday) — Three months after sensationally announcing their world-record US$400 billion gas supply agreement in Shanghai, Russia and China are facing a raft of challenges to meet the ambitious project’s targeted start-up from 2018. Under pressure from both governments, state-owned firms Gazprom and China National Petroleum Corp (CNPC) hurriedly set aside […]

Continue Reading 0

CHINA: Gas production and consumption to rise further with contribution from Russia

(EnergyAsia, August 28 2014, Thursday) — Russia could supply about 10% of China’s natural gas demand in 2018 if the two governments are able to implement their ambitious plan to develop and pipe reserves from Siberia to the northern and eastern provinces of Asia’s largest economy. Both governments are hugely motivated to meet the 2018 […]

Continue Reading 0

MALAYSIA: Wood Mackenzie tips Malaysia as potential challenger to Qatar’s LNG leadership

(EnergyAsia, August 27 2014, Tuesday) — Malaysia could displace Qatar and surprise as the world’s largest supplier of “flexible” liquefied natural gas (LNG) by 2020, said energy consulting firm Wood Mackenzie. In addition to building capacity through ownership of plants in Sabah state, Canada and Australia, Malaysian state energy firm Petronas is adding supplies through […]

Continue Reading 0

INDIA: Prime Minister Modi launched oil storage depot in Jharkhand state

(EnergyAsia, August 27 2014, Wednesday) — India’s Prime Minister, Narendra Modi, has launched the country’s newest major oil storage depot in the country’s northeastern industrialising state of Jharkhand. Indian Oil Corp invested 1.1-billion rupees to develop the 31,600-cubic metre terminal on a 10.5-hectare site at Jasidih in Deoghar district. (US$1=60 rupees). India’s largest downstream firm […]

Continue Reading 0

AUSTRALIA: Caltex’s first-half profit down but less than feared on reduced output from impending Kurnell refinery closure

(EnergyAsia, August 26 2014, Tuesday) —- Caltex Australia said its first-half profit fell 12.3% from year-ago levels to A$173 million caused largely by the impending shutdown of one of its two oil refineries and the weaker local currency against the US dollar. (US$1=A$1.08). But the decline was not as severe as feared when the listed […]

Continue Reading 0

MARKETS: EIA continues lowering forecasts for global oil demand for 2014 and 2015

(EnergyAsia, August 25 2014, Monday) — For the third consecutive month, the US Energy Information Administration (EIA) has reduced its forecasts for global oil demand growth for 2014 and 2015. In its August short-term outlook on the energy markets, the agency expects the world to consume 91.56 million b/d this year and 92.96 million b/d […]

Continue Reading 0

SINGAPORE: Global Green Economic Forum to focus on building a sustainable eco-system for business

(EnergyAsia, August 22 2014, Friday) — The second annual Global Green Economic Forum (GGEF), to be held next month at the Sands Expo & Convention Centre in Singapore’s Marina Bay Sands, will focus on building a sustainable eco-system for business. The gathering of more than 300 delegates will discuss four themes: building sustainable business practices, […]

Continue Reading 0

CHINA: Qatargas delivers commissioning cargo to CNOOC’s seventh LNG terminal

(EnergyAsia, August 21 2014, Thursday) — China National Oil Corporation (CNOOC), the country’s largest liquefied natural gas (LNG) importer, has started up its seventh terminal on Hainan Island with the receipt of a first cargo from Qatargas on August 7. Qatar’s state-owned firm said it delivered the cargo on its super-size Q-Max class vessel Rasheeda, […]

Continue Reading 0

Developed by Bowtie