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AUSTRALIA: Accenture says LNG industry faces barriers to delivering A$55 billion worth of benefits

(EnergyAsia, May 18 2015, Monday) — Having done the hard part of attracting A$250 billion worth of liquefied natural gas (LNG) investments, Australia may yet miss out on A$55 billion worth of benefits when the new plants start up over the next few years, said consulting firm Accenture. (US$1=A$1.3). In a new report, the consulting […]

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CHINA: Silk route will open up “new commodity superhighway” but faces enormous risks, says Wood Mackenzie

(EnergyAsia, April 28 2015, Tuesday) — China faces a long list of risks in its strategy to develop the old Silk Route and a new maritime channel to connect Asia with the Middle East, Africa and Europe, said consultant Wood Mackenzie. Beijing’s ‘One Route One Belt’ strategy holds the promise of creating a new “commodity […]

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MYANMAR: Contract for largest gas-fired independent power plant awarded to Singapore’s Sembcorp Industries

(EnergyAsia, April 27 2015, Monday) — Singapore’s Sembcorp Industries said it has been awarded a contract to develop and operate what will be Myanmar’s largest gas-fired independent power plant. In securing its first investment in the country’s fast-growing power sector, Sembcorp said it beat off competition from international rivals for the proposed 225MW project in […]

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VIETNAM: Russia’s Gazprom unit to invest in upstream activities, buy 49% stake in troubled refinery

(EnergyAsia, Monday April 14 2015, Tuesday) — Gazprom Neft, the oil subsidiary of Russia’s leading gas producer Gazprom, said it plans to invest in Vietnam’s upstream sector as well as acquire a 49% stake in the country’s only oil refinery at Dung Quat. Gazprom Neft said its venture into the Southeast Asian country will be […]

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MARKETS: US shale sector hopes for oil price recovery while global exploration costs seen falling 30%, say consultants

(EnergyAsia, April 9, 2015, Thursday) — Amid sharply reduced budgets and activities, the US shale sector is hoping for the stage to be set for oil prices to stabilise and eventually recover, said UK consultant Douglas-Westwood (DW). Another consultant Wood Mackenzie expects exploration costs to fall by a third, spurring drilling activity for 2016 to […]

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AUSTRALIA: Chevron sold off entire 50% stake in Caltex to focus on LNG projects

(EnergyAsia, March 30 2015, Monday) — US major Chevron has sold off its entire long-held 50% stake in Australia’s largest downstream company for A$4.7 billion to focus on developing its core Gorgon and Wheatstoneliquefied natural gas (LNG) projects. (US$1=A$1.30). Despite the exit, Chevron said in a statement it remains one of Australia’s largest foreign investors and […]

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MALAYSIA: Southeast Asia’ s first crude oil storage terminal launched

(EnergyAsia, March 26 2015, Thursday) — Malaysia’s Johor state has started up Southeast Asia’s first commercial crude oil storage terminal with the receipt of one million barrels of Middle Eastern crude from a supertanker last week. MT Mesdar, a vessel chartered by France’s Total, docked at the Pengerang deepwater terminal jointly owned by Dutch oil […]

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MARKETS: BIMCO developing charter to bring greater flexibility to LNG spot trades

(EnergyAsia, March 24 2015, Tuesday) — In response to the growing liquefied natural gas (LNG) trade, the world’s largest shipping association said it is working with the industry to develop a new contract to provide for better risk and cost-management of the fuel’s transportation under voyage charter terms. The Baltic and International Maritime Council (BIMCO), […]

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ASIA: Summer LNG price rally to be cut short by additional Australian production, says Wood Mackenzie

(EnergyAsia, March 19 2015, Thursday) — Asia’s liquefied natural gas (LNG) prices will enjoy a brief rally in the summer that will be quickly cut down by the start-up of new production capacity in Australia, predicts energy consultant Wood Mackenzie. The expected resumption of operations at some nuclear plants in Japan will also pressure Asian […]

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