JAPAN: LNG import prices to remain linked to crude oil formula despite increase in spot trades

(EnergyAsia, February 13 2016, Saturday) — Led by Japan, Asia’s use of an established crude oil-based formula to price its liquefied natural gas (LNG) imports will likely continue into the next decade, according to one of the region’s leading energy economists. In a recent commentary, Ken Koyama, chief economist and managing director of the Institute...

This article is for Subscriber members only.
Log In Register

SINGAPORE: SGX makes another attempt at energy futures pricing and trading with LNG contract

(EnergyAsia, February 12 2016, Friday) — For all its illustrious history as Asia’s oil centre, Singapore is still missing a vital piece in its quest to become a full-fledged energy trading hub: a successful futures exchange to support price discovery and regional paper trades. New York and London set the standard as true global centres...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Swiss chemical logistics firm Bertschi AG to invest another S$20m to expand new S$45m plant on Jurong Island

(EnergyAsia, Singapore, February 2 2016, Tuesday) – Swiss chemical logistics firm Bertschi AG will invest another S$20 million in a dangerous goods warehouse to add to its newly opened S$45 million plant on Singapore’s oil and chemicals hub on Jurong Island. (US$1=S$1.42). Hans-Jörg Bertschi, President and CEO of Bertschi Holding AG, made the announcement for (more…)

JAPAN: Economy still weak despite the benefit of 18 months of cheap oil and gas prices

(EnergyAsia, February 1 2016, Monday) — Japan’s ailing energy-intensive economy continues to struggle for life despite the infusion of an unexpected windfall from prolonged weak oil and gas prices since mid-2014. Even with the support of a weak yen and Tokyo injecting over US$30 billion in stimulus spending last year, the economy grew by just...

This article is for Subscriber members only.
Log In Register

SINGAPORE: MPA awards first two licences for suppliers of LNG as shipping fuel

(EnergyAsia, January 28 2016, Thursday) — Singapore expects to start supplying liquefied natural gas (LNG) as shipping fuel from 2017 following the first awards of licences to two operators, said the Maritime and Port Authority of Singapore (MPA). The agency announced that it has selected Singapore’s Pavilion Gas Pte Ltd, and a soon-to-be-established joint venture (more…)

JAPAN: Fate of nuclear power industry will shape long-term LNG, fossil fuels demand

(EnergyAsia, January 25 2016, Monday) — The precarious fate of Japan’s nuclear power industry will cast an uncertain shadow over the country’s energy outlook for at least the next 15 years, suggests its state planning agency. The bulk of Japan’s nuclear power plants, which used to supply nearly 30% of its electricity, remains idled after...

This article is for Subscriber members only.
Log In Register

SAUDI ARABIA: King Salman, China’s President Xi jointly opened year-old Yanbu oil refinery

(EnergyAsia, January 21 2016, Thursday) — Saudi Arabia’s King Salman and China’s President Xi Jinping have officially launched a 400,000 b/d oil refinery in Yanbu city jointly owned by their countries’ state energy firms that will help deepen China’s involvement in the Middle East. Amid security concerns, the two leaders officiated the Wednesday launch from...

This article is for Subscriber members only.
Log In Register

CHINA: Coal imports and consumption down sharply, electricity demand growth slowed in 2015

  (EnergyAsia, January 20 2016, Wednesday) — China’s slowing economy has been decisively confirmed by a slew of negative industrial data for 2015. Coal production, imports, consumption were all down along with electricity, cement and steel production, according to the Australia-based Institute for Energy Economics and Financial Analysis (IEEFA). Citing official Chinese sources, the institute (more…)

JAPAN: JERA on course to reduce term LNG purchases in favour of spot purchases

(EnergyAsia, January 17 2016, Sunday) — Japan’s JERA Co Inc has set its sights on meeting at least half its 40 million tonnes/year of liquefied natural gas (LNG) purchases through spot trades to take advantage of expected low prices over the next few years. Established last April through the merger of two of the country’s...

This article is for Subscriber members only.
Log In Register

INDIA: Petronet receives first LNG cargo from Qatar’s RasGas under new agreement

(EnergyAsia, January 15 2016, Friday) — India’s Petronet LNG Limited has received the first cargo from RasGas Company Ltd under their new sales and purchase agreement (SPA) signed on December 31 2015, said the Qatar state-owned company. The LNG cargo was delivered by the Al Thumama (Q-Flex) vessel to Dahej LNG Terminal in India’s Gujarat (more…)

MARKETS: IEA says global oil stockpile at record three billion barrels

(EnergyAsia, December 3 2015, Thursday) — The International Energy Agency (IEA) has delivered another piece of news to beat down any hopes for a near-term recovery in oil prices: global stockpile have just topped a record three billion barrels. According to the agency, the stockpiles “are providing world markets with a degree of comfort” as...

This article is for Subscriber members only.
Log In Register

ASIA: Modest growth, healthy margins outlook for oil refiners, says Moody’s

(EnergyAsia, December 2 2015, Wednesday) — Moody’s Investor Service said Asian downstream oil companies can expect modest growth and healthy margins in 2016 with crude prices staying low and the region’s refining capacity glut easing off. The US rating agency presented its forecast of the industry in a report examining the prospects of nine major...

This article is for Subscriber members only.
Log In Register

KAZAKHSTAN: Focus on expanding ties with China amid mounting financial, economic problems

(EnergyAsia, November 25 2015, Wednesday) — Faced with its worst economic and financial downturn in nearly a decade, Kazakhstan is looking again to China to repeat its rescue act of 2008-2009. According to the International Monetary Fund, Kazakhstan will have the region’s worst performing economy this year as its growth will slow to just 1.5% (more…)

US: Oil reserves at highest level since 1972, natural gas reserves at record, says EIA

(EnergyAsia, November 24 2015, Tuesday) — Thanks to the adoption of fracking technology, the US boosted its oil reserves to a 42-year high of 39 billion barrels and natural gas to an all-time high of 388.8 trillion cubic feet (11 trillion cubic metres) at the end of 2014. But, the Energy Information Administration (EIA) said (more…)

MARKETS: Analysts see crude in the $20s, Saudi officials hoping for recovery in 2016

(EnergyAsia, November 23 2015, Monday) — Down by over 65% since mid-2014, crude oil prices could fall another 50% to the US$20s a barrel next year, said analysts at Wall Street firms. The oil market’s fundamentals are worsening, particularly with the sharp slowdown in the economies of Saudi Arabia and China combining to pressure lower...

This article is for Subscriber members only.
Log In Register

CENTRAL ASIA: Doubts persist over proposed TAPI gas pipeline

(EnergyAsia, November 20 2015, Friday) — Despite reports of a December start-up, the construction of possibly Asia’s most ambitious pipeline project to supply natural gas from Turkmenistan to Afghanistan, Pakistan and India remains shrouded in doubt as it faces a myriad of mounting financial, political and security problems. Proponents of the proposed TAPI pipeline, named...

This article is for Subscriber members only.
Log In Register

IRAQ: Basra to set up regional company to attract international oil, gas and infrastructure investment

(EnergyAsia, November 13 2015, Friday) — Iraq’s hydrocarbon-rich Basra province is establishing a regional company to attract foreign direct investment to build up its oil, gas and infrastructure for the long-term development of the economy. “Basra Company is the vehicle through which the provincial government will optimise utilisation of resources and position Basra as the (more…)

MARKETS: IEA fears low oil and gas prices inducing “complacency” over energy security issues

(EnergyAsia, November 12 2015, Thursday) — The world is at risk of becoming complacent to energy security threats with an expected prolonged period of low oil and gas prices looming ahead, said the International Energy Agency (IEA). While consumers stand to benefit, the market is increasingly at risk from both a growing reliance on a (more…)

SAUDI ARABIA: Vopak joint venture to provide liquid product storage services in Jubail

(EnergyAsia, November 3 2015, Tuesday) — Jubail Chemicals Storage and Services Company (JCSSC), a company 25% owned by Royal Vopak of the Netherlands, has signed two agreements to provide liquid product storage and handling services at the King Fahd Industrial Port (KFIP) in Jubail in Saudi Arabia’s Eastern Province. JCSSC, 75% owned by Saudi Basic (more…)

MARKETS: Oil demand growth to slow sharply from five-year high in 2015, says IEA

(EnergyAsia, November 1 2015, Sunday) — Global oil demand growth will slow sharply to 1.2 million b/d next year after reaching what would be a five-year high of 1.77 million b/d in 2015, predicts the International Energy Agency (IEA). Demand has been stimulated by more than a year of low oil prices, with the world’s...

This article is for Subscriber members only.
Log In Register

CENTRAL ASIA: World Bank expects region’s economies to face “strong headwinds” on new challenges from weak oil, Russia

(EnergyAsia, October 31, 2015, Saturday) — Still reeling from the effects of the global financial crisis of 2008, the World Bank said Central Asia is facing “strong headwinds” from a set of new challenges brought on by the continuing weakness in oil and gas prices, Russia’s recession and worsening relations with the West, the slowdown...

This article is for Subscriber members only.
Log In Register

CANADA: AltaGas, Woodfibre announce progress in proposed projects to export gas to Asia

(EnergyAsia, October 30 2015, Friday) — Two Canadian companies have made important progress in their respective projects to export gas products from British Columbia province to Asia. Calgary-based AltaGas Limited said it is on course to make a final investment decision for its proposed propane export plant after securing a definitive agreement for the site...

This article is for Subscriber members only.
Log In Register

CENTRAL ASIA: Japan hopes to rival China and Russia with promise of major investment

  (EnergyAsia, October 30 2015, Friday) — In their darkest moment in over two decades, Central Asia’s beleaguered economies may have found another white knight in Japanese Prime Minister Shinzo Abe whose high-profile visit in late October promises an investment injection worth a total of more than three trillion yen. (US$1=120 yen). On an historic...

This article is for Subscriber members only.
Log In Register

SINGAPORE: Pavilion Energy to procure LNG from Russia’s Gazprom to support regional trade

(EnergyAsia, October 29 2015, Thursday) — Singapore’s Pavilion Energy said it has signed a 10-year agreement to procure liquefied natural gas (LNG) from Russian gas giant Gazprom to support its trading and supply activities in Asia. In a speech this week, Pavilion Energy CEO Seah Moon Ming said he views the deal “as an important...

This article is for Subscriber members only.
Log In Register