AUSTRALIA: South Korea’s Hyundai Heavy wins US$2.06 billion order for Gorgon natural gas project

(EnergyAsia, October 30, Friday) — South Korean engineering firm Hyundai Heavy Industries Co Ltd (HHI) said it has secured a record US$2.06 billion contract to build a module fabrication for the Barrow Island liquefied natural gas (LNG) plant as part of the development of Australia’s giant Gorgon gas fields. HHI submitted its bid to build…

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CHINA: A-Power Energy Generation Systems Ltd to develop a 19.5MW wind farm in Shandong province

(EnergyAsia, October 30, Friday) — A-Power Energy Generation Systems Ltd, a Nasdaq-listed provider of distributed power generation systems in China and a fast-growing manufacturer of wind turbines, said it has won a contract to develop a 19.5MW wind farm in Donggang, Rizhao City in Shandong province. Under the $36.2 million contract awarded by the Shandong…

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COMPANY: DNV establishes clean energy unit in London

(EnergyAsia, October 30, Friday) — Det Norske Veritas (DNV), a global provider of risk management services, said it recently set up a clean energy unit in London, UK to support the country’s renewable energy industries which include wind, wave, tidal and carbon capture and storage (CCS). DVN said the new office is co-located with its…

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CLIMATE CHANGE: Cost of adaptation to hit US$75-100 billion a year, says World Bank

(EnergyAsia, October 30, Friday) — It may cost developing countries as much as US$100 billion per year to adapt to the impact of climate change over the next 40 years, according to preliminary findings in a new global study from the World Bank.  The Economics of Adaptation to Climate Change (EACC) study, funded by the…

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CHINA: Wartsila to license Zhuhai Yuchai Marine Power to produce and sell low-speed engines

(EnergyAsia, October 30, Friday) — Finnish power solutions provider Wartsila Corporation said it has agreed to license China’s Zhuhai Yuchai Marine Power Co Ltd to manufacture and sell its RT-flex low-speed marine diesel engines in the country. Zhuhai Yuchai is a subsidiary of Guangxi Yuchai Machinery Group, the largest manufacturer of and the market leader…

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CHINA: Legislators seek to establish state renewable energy fund

(EnergyAsia, October 30, Friday) — Chinese legislators have proposed to amend the Renewable Energy Law of 2005 with the aim of establishing a new fund to support development of the sector.  Under the amendment awaiting approval from the National People’s Congress (NPC), the new fund would derive income from an existing special fund provided for…

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CHINA: CIC seeks minority stakes in infra, energy projects

(EnergyAsia, October 30, Friday) — Chinese sovereign wealth fund China Investment Corp is looking to take minority stakes in international infrastructure, resources and energy projects to diversify its US$200 billion investment portfolio.  The company said that the fund is looking for deals in green energy and new technology to help improve electricity transmission efficiency, citing…

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CHINA: Rise as global economic leader fuelled by energy investments, said speaker at ROTH conference

(EnergyAsia, October 30, Friday) — China’s plans to invest an estimated $2.65 trillion in energy infrastructure, production and distribution by 2020 is fuelling its rise as a global economic power, said Louis Schwartz, president of China Strategies, LLC.  Speaking at the recent annual ROTH Capital Partners China Investment Conference in Florida, US, he predicts China…

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COMPANY: Lloyd’s Register launches global energy unit

(EnergyAsia, October 29, Thursday) — The Lloyd’s Register group said it has created a new energy business by merging its oil and gas, and chemicals and power divisions. The consulting and inspection company said the combined business will bring together its capabilities in the upstream, downstream, power and manufacturing sectors to provide a range of…

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PAPUA NEW GUINEA: Santos said ExxonMobil raised LNG project FEED cost estimate to US$15 billion

(EnergyAsia, October 29, Thursday) — Australian upstream company Santos said ExxonMobil has raised the pre-front end engineering and design (FEED) estimate for its liquefied natural gas (LNG) project in Papua New Guinea to US$15 billion. Operator ExxonMobil provided the estimate which covers the project’s first phase on a preliminary basis as the contract awards have…

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MALAYSIA: Murphy Oil starts producing natural gas in two Sarawak blocks

(EnergyAsia, October 29, Thursday) — NYSE-listed Murphy Oil Corp said it has begun producing natural gas fields in Blocks SK 309 and SK 311 off the coast of Malaysia’s Sarawak state. Natural gas produced from the phased development of the fields will be supplied to the Petronas LNG Complex in Bintulu city. Murphy Sarawak Oil…

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INDIA: KSK Surya photovoltaic venture to build 150MW thin film manufacturing plant

(EnergyAsia, October 29, Thursday) — KSK Surya Photovoltaic Venture, Private Limited (KSK), a subsidiary of KSK Power Ventur plc, a leading independent power provider in India, said it has agreed to purchase from Applied Materials Inc two Applied SunFab™ Thin Film Lines for manufacturing high-power output 5.7-sq m solar panels. The SunFab lines will be…

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CHINA: Ministry verifies proven oil reserves of 26 million tons in Jilin province, says Singapore fi

(EnergyAsia, October 29, Thursday) — Singapore-listed Tri-M Technologies (S) Limited said its wholly-owned subsidiary, Kingworld Resources Limited (KRL), has received a document from China’s Ministry of Land and Resources that approved its evaluation results of new oil reserves in three oilfields in Songliao Basin in Jilin province. The evaluation of 25.44 sq km of or…

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CHINA: KBR awarded clean coal contract by Beijing company

(EnergyAsia, October 29, Thursday) — Engineering firm KBR said it has won a contract from Beijing Guoneng Yinghui Clean Energy Engineering Co Ltd to provide licensing, engineering services and proprietary equipment for the implementation of a proprietary gasification technology at a Dongguan coal power plant in China’s Guandong province. The Transport Integrated Gasification technology (TRIG™)…

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AUSTRALIA: Shell to deploy floating LNG technology

(EnergyAsia, October 29, Thursday) — Royal Dutch Shell said it plans to develop its Prelude and Concerto gas discoveries in the Browse Basin off the northwest coast of Western Australia, using its untested floating liquefied natural gas (FLNG) technology. Shell said the FLNG solution is an important development for the industry, with its ability to…

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AUSTRALIA: Thailand’s PTTEP to acquire upstream company for US$10 million

(EnergyAsia, October 29, Thursday) — Thai state upstream company PTTEP said it has agreed to pay US$10 million to acquire OMV Timor Sea Pty Ltd, a subsidiary of OMV Australia Pty Ltd, which has exploration rights for five blocks and two offshore oil fields in Australia. OMV Timor Sea Pty Ltd, which focuses on exploration…

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SINGAPORE: Shell awards Tiong Woon three contracts to supply mobile cranes and maintenance works

(EnergyAsia, October 28, Wednesday) — Singapore Exchange-listed Tiong Woon Corporation Holding Ltd (TWC) said its wholly-owned subsidiary, Tiong Woon Crane Pte Ltd, has been awarded two contracts by Royal Dutch Shell subsidiaries to provide mobile cranes and lifting services to the mono-ethylene glycol (MEG) plant and the Seraya plant on Jurong Island. The subsidiaries are…

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MARKET: Oil demand in developed countries has peaked, says IHS CERA

(EnergyAsia, October 28, Wednesday) — Developed countries, which account for 54% of world oil consumption, likely reached their demand peak in 2005, according to a new research report by IHS Cambridge Energy Research Associates (CERA). While world oil demand is now set to grow as the world economy moves from recession to recovery, the demand…

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MARKETS: IEA continues to raise forecast for world oil demand for 2009 and 2010

(EnergyAsia, October 28, Wednesday) — The International Energy Agency (IEA), which represents the world’s leading oil consuming countries, has again raised its forecast for world oil demand for 2009 and 2010 on account of improving global economic conditions. In its latest forecast, the Paris-based agency has forecast the world to consume 84.6 million b/d of…

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SINGAPORE: Petrochemical sector under pressure from regional oversupply

(EnergyAsia, October 28, Wednesday) — Singapore’s petrochemical operators will see a difficult market from the fourth quarter as newly completed plants come onstream in China, Thailand and the Middle East, industry sources predict.  The addition of new capacity to coincide with the start-up of two large petrochemical plants in Singapore is expected to depress the…

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SAUDI ARABIA: Aramco set to award bulk storage plant expansion contract

(EnergyAsia, October 28, Wednesday) — Saudi Arabia’s state oil giant Aramco is set to award a contract to expand 12 bulk storage plants that will serve as major fuel distribution points across the country.  Local firm MS al Suwaidi Industrial Services Company is said to be the frontrunner to win the contract for which a…

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NEW ZEALAND: BP to build Port Howard storage terminal

(EnergyAsia, October 28, Wednesday) — Oil major BP has been given the green light to build a 50-million-litre fuel storage terminal at Port Howard in New Zealand despite objections from residents near the site. The proposed project, which was subject to a four-day consent hearing, will consist of seven new storage tanks to be built…

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INDONESIA: Japan’s Inpex approved to proceed with LNG project

(EnergyAsia, October 28, Wednesday) — The Indonesian government has approved plans by Japan’s Inpex Holdings Inc to build a US$10-billion floating liquefied natural gas (LNG) plant.  Indonesian state-owned gas and oil giant Pertamina is seeking a 30% stake in the 4.5-million-tonne-per-year plant which is expected to be completed in 2016.  Inpex is currently the sole…

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VIETNAM: Singapore’s EMS Energy to supply offshore cranes for oilfield project

(EnergyAsia, October 28, Wednesday) — Singapore’s EMS Energy Limited said its subsidiary, Engineering & Marine Services (Pte) Ltd, has secured a letter of intent (LOI) from Vietnam’s Hoang Long Joint Operating Company for the manufacture and supply of offshore pedestal cranes for use in an offshore oilfield in that country. The first crane to be…

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SINGAPORE: Keppel Shipyard on track to complete first FPSO for US Gulf of Mexico

(EnergyAsia, October 27, Tuesday) — Keppel Shipyard Limited, a unit of Singapore’s Keppel Offshore & Marine, said it is on track to deliver the first floating production storage and offloading (FPSO) vessel for the US Gulf of Mexico to BW Pioneer Ltd, an affiliate of Oslo-listed BW Offshore. The vessel, BW Pioneer, will be turret-moored…

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