Archive | October, 2011

COMPANIES: Teekay-Marubeni JV to acquire Maersk’s LNG fleet for US$1.4 billion

(EnergyAsia, October 31 2011, Monday) — Canada’s maritime transport group Teekay LNG and Japanese trading house Marubeni Corp have agreed to jointly buy Danish shipping group AP Moller-Maersk’s liquefied natural gas (LNG) shipping subsidiary for US$1.402 billion. In separate statements, the companies said the new joint venture firm will fully acquire six of the subsidiary’s […]

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MIDDLE EAST: UAE, Saudi Arabia, Qatar, Kuwait gained from Arab Spring, Libya, Egypt, Syria lost, says study

(EnergyAsia, October 31 2011, Friday) — It pays to be politically aligned to the West if you’re a major oil and gas producer, according to a study by consultant Geopolicity. Its latest research found that the economies of the region’s most important Western allies, UAE, Saudi Arabia, Qatar and Kuwait, benefitted significantly from high oil […]

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JAPAN: MHI to build first “Sayaendo” new-generation LNG carriers

(EnergyAsia, October 31 2011, Monday) — Japan’s Mitsubishi Heavy Industries Ltd (MHI) said it has secured a deal to build two new-generation liquefied natural gas (LNG) carriers for two leading Japanese shipping firms. MHI said it will deliver the first of the “Sayaendo” series carriers to Osaka Gas Co Ltd’s Osaka Gas International Transport Inc […]

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CANADA: Shell and partners advance plans to export LNG to Asia from Kitimat

(EnergyAsia, October 31 2011, Monday) — Royal Dutch Shell and its partners have purchased an abandoned methanol plant site at Kitimat in western Canada as part of their long-term plan to develop and export liquefied natural gas (LNG) to Asia. The consortium comprising Shell, Mitsubishi Corp, Korea Gas Corp and Chinese National Petroleum Corp (CNPC) […]

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MARKETS: OPEC expects world oil use to rise by 900,000 b/d in 2011, 1.2 million b/d in 2012

(EnergyAsia, October 28 2011, Friday) — The Organisation of Petroleum Exporting Countries (OPEC) expects world oil demand to increase by 900,000 b/d to 87.81 million in 2011 and 1.19 million b/d to 89.01 million b/d next year. Reflecting the deterioration in the global economic environment, OPEC’s latest monthly forecast represents a downgrade from its previous […]

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AUSTRALIA: EFIC supports financing of Wiggins Island coal export terminal

(EnergyAsia, October 28 2011, Friday) — Australia’s Export Finance and Insurance Corporation (EFIC) said it is providing a US$100 million export finance guarantee to support senior secured loan facilities of A$3 billion for the construction and operation of the Wiggins Island Coal Export Terminal (WICET) in the Port of Gladstone in Queensland state. (US$1=A$0.95). The […]

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CONFERENCES: OxfordPrinceton’s upcoming courses for energy professionals in Singapore

(EnergyAsia, October 27 2011, Thursday) — OxfordPrinceton is organising the following courses for energy professionals in Singapore in November. Front to Back Office: Trading Controls and Best Practices (FTBO) on November 14. This fascinating and interactive workshop will give delegates a thorough understanding of best practice controls to be applied in commodity trading activities. Delegates […]

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