President Roh brings home new sources of energy after Kazakhstan and Russian visits

President Roh Moo-hyun’s recent visits to Kazakhstan and Russia are expected to secure new sources of energy, giving Korea an opportunity to restructure its energy sector, according to the Korea Herald. Korea’s heavy dependence on imports underlines the importance of the agreements signed in Russia and Kazakhstan, which are expected to expand bilateral development of...

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Santos awards second sales contract for John Brookes gas field

Australia’s upstream company Santos Limited said that its wholly owned subsidiary, Santos (BOL) Pty Ltd has signed a second gas sales contract for the John Brookes gas field. Under the contract, Santos (45%) and Apache Northwest Pty Ltd (55% and oerator) will supply EDL LNG (WA) Pty Ltd, a subsidiary of Energy Developments Limited (EDL)...

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Soaring crude prices caused last month’s trade deficit

High crude oil prices caused Thailand to suffer a US$216-million trade deficit last month, the first since April, the Commerce Ministry announced. The bill for August’s crude oil imports rose 82% year-on-year to US$1.26 billion, according to the Bangkok Post. The value of all imports in August rose 35.3% year-on-year to a record of $8.5...

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Study calls for 400 billion baht of investment into 33 petrochemical projects

Thailand plans to invest about 400 billion baht in 33 petrochemical projects under Phase 3 of the National Petrochemical Master Plan between 2004 and 2018, forecasts the Petroleum Institute of Thailand (PTIT). (US$1 = 41 baht). According to a report by Business Day last week, the PTIT said Thailand needs a master plan for the...

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Malaysian firm to expand LPG, NGL facilities at Adhi Field

Ranhill Berhad, a Malaysian engineering company, has won a US$21 million contract to expand the liquefied petroleum gas (LPG) and natural gas liquids (NGL) recovery facilities at the Adhi field in Pakistan’s northern districts of Punjab province.             State-owned Pakistan Petroleum Limited (PPL), which awarded the contract, said it has increased the recoverable reserves of...

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Maritime authority to implement new bunkering measures to maintain port’s leadership

The Maritime and Port Authority of Singapore (MPA) will be implementing several new initiatives to upgrade the bunkering industry and enhance its services in port.  The schemes will also help prepare the multi-billion Singapore bunkering industry meet the revised international requirements on tankers being adopted. Yeo Cheow Tong, Singapore’s Minister for Transport, announced the MPA’s...

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Ingersoll Rand — Microturbines for continuous power supply

For governments, business planners and security experts around the world, power cost and reliability of supply are becoming a growing source of concern. As proven in the great black-out of North America and parts of Europe in the summer of 2003, the recent shutdown of nuclear plants in Japan, and now amid China’s power crisis,...

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Korea Gas asked to up its offer for a stake in Malampaya field

A consortium led by the Korea Gas Corp (Kogas) has submitted a “lower than expected” bid for a 4.9% stake in the Philippines’ US$4.5 billion Malampaya field, said state-owned Philippine National Oil Co Exploration Corp (PNOC-EC). PNOC EC officials told the Philippine Star newspaper that negotiations are underway for the consortium to raise its offer...

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Taiwan’s CPC and CNOOC to collaborate to explore for oil and gas in the Taiwan Straits

Taiwan’s Chinese Petroleum Corporation (CPC) and the China National Offshore Oil Corporation (CNOOC) will jointly explore for oil and gas near Penghu in the middle of the Taiwan Straits. According to CPC, the two sides, and CNOOC have collaborated before in the Tainan Basin and the Chaoshan Trough. While they did not find any hydrocarbons,...

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ADB to extend $15 million for education and energy loans

Asia Development Bank (ADB) is planning to extend US$15 million in loans for the education and energy sectors of Samoa, according to a Country and Strategy Program (CSP) Update for 2005-2006 endorsed by ADB’s Board of Directors. The ADB said it is extending a $10 million loan for 2005 to promote the use of indigenous...

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New contracts pave the way for Indonesian LNG supplies

New sale contracts signed earlier this month for China’s second liquefied natural gas (LNG) project in Fujian Province will pave the way for imports from Indonesia in 2007, reported the China Daily. The gas to be imported from Tangguh in Indonesia will be sold by the project’s operator, China National Offshore Oil Corp (CNOOC), to...

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A*STAR and Mitsui Chemicals Inc sign R&D partnership, boosting local chemical industry

Mitsui Chemicals, Inc. (Mitsui), one of the largest chemical companies in Japan, recently signed a master R&D agreement with A*STAR’s (the Agency for Science, Technology and Research) research institutes, the Institute of Chemical and Engineering Sciences (ICES), and the Institute of Materials Research and Engineering (IMRE). The master agreement, signed by Akihiro Yamaguchi, managing director,...

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BP Migas seeks to settle Sukawati oil field dispute

Oil and gas upstream authority BP Migas is seeking to resolve a dispute involving ExxonMobil, state-owned Pertamina and PetroChina over production tests at the Sukawati oil field in East Java, according to the Jakarta Post. The dispute centres on production tests at the Sukawati oil field being carried out by joint venture JOB Tuban which...

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Tokyo Gas invests in Mexican power generation project

Japan’s Tokyo Gas Co Ltd has agreed with InterGen to jointly invest in Mexico’s Bajio power project. Tokyo Gas said this is the first time it its investing in a power generation business outside Japan.                 Bajio is a natural-gas-fired combined cycle Independent Power Producer (IPP) with total generation capacity of 601 megawatts (MW), located...

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Government, Oman LNG and Union Fenosa are partners in the Qalhat LNG project

Oman’s government has signed a shareholders agreement making Oman LNG and Union Fenosa Gas its partners in Qalhat LNG (SAOC). The agreement was among several signed concerning Qalhat LNG. The others include two agreements on gas supply and shipping between Oman LNG and the Oman Shipping Company and an agreement on shared use of facilities...

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New deal with Kazakhstan on energy and power resources

South Korea and Kazakhstan agreed this week to jointly develop the Caspian oil field and an uranium field in southern Kazakhstan, according to the Korea Times. Korean President Roh Moo-hyun and Kazakh President Nursultan Nazarbayev also signed an agreement and a memorandum of understanding (MOU) on joint exploration of energy and mining resources, a protocol...

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PTTEP announces investment in Block B-17-01 in the Joint Development Area (JDA)

Thailand’s PTT Exploration and Production Public Company Limited (PTTEP) said Bangkok has approved a production sharing contract, Block B-17-01, between the Malaysia-Thailand Joint Authority and PTTEP International Limited (a subsidiary of PTTEP), and PC JDA Limited (an affiliate of Petronas Carigali), as proposed by the Ministry of Energy. The participation interest will be 50% and...

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Digital Gas joins Quanta consortium to build two 400-MW waste-to-power plants

New York-based Digital Gas, Inc said its subsidiary, Digital Energy & Farming Asia LLC (DEFA), has signed an agreement to join the Quanta Energy Environment consortium, which has received approval from the Taiwan government to build two400-MW waste-to-energy plants in Taiwan.            Quanta received foreign investment approvals from the Investment Commission of the Ministry of Economy...

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Origin Energy says it extended help to 8,000 customers

Australia’s Origin Energy said it extended help to some 8,000 households experiencing financial difficulty over the last 12 months.             It said it introduced the “Power On” policy in July 2003 to assist financially-strapped customers, demonstrating its commitment to ensuring the entire community can responsibly access electricity and gas, regardless of their financial circumstances.            ...

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Financing concluded on Asia’s largest wind power project

South Korea is to have its first independent windpower project thanks to the recent conclusion of financing from an international consortium. The 39.6 MW Youngduk wind power farm in North Kyongsang is the first non-recourse financed wind power project in the Asian region, according to a press release issued by the law firm that represented...

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MHI-led consortium wins order for geothermal power plants in Iceland

Japan’s Mitsubishi Heavy Industries Ltd, in a consortium with Balcke Durr GmbH, a German engineering company, has received a turnkey order from Reykjavik Energy in Iceland, to build two 40 MW geothermal power plants at Hellisheidi, some 20 km east of Reykjavik. The order marks the eighth geothermal power plant consigned to MHI by the...

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Xinao Gas reports 75.5% jump in revenue to RMB587.1 Million for 1h 2004

          Hong Kong-listed Xinao Gas Holdings Limited, a privately-owned piped gas operator in China, has announced its interim results for the six months ended June 30, 2004. It said that for the period, turnover and profit attributable to shareholders increased to about RMB587.1 million and RMB87.8 million respectively, representing increases of 75.5% and 34% as...

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Singapore Power appoints TXU executives

State-owned Singapore Power has named former TXU executive Len Gill as chief of its new Australian energy business. The Singapore company had bought the Australian business from US electricity supplier TXU Corp for A$5.1 billion in April. Mr Gill was then general manager for TXU’s wholesale energy operations. Singapore Power’s Australian business now includes the...

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Government promises to reduce fuel subsidy next year

The Indonesian government and the House of Parliament’s working committee reached an agreement last week to reduce 2005’s national budget allocated to fuel subsidy from an earlier target of Rp 21 trillion to Rp19 trillion, according to Antara news agency. (US$1 = 9,009 rupiah).             Committee chairman Arief Mudatsir Mandan said the government estimated that...

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MoU with Myanmar soon to develop hydro power

Thailand hopes to soon sign a memorandum of understanding (MoU) with the government of Myanmar for a joint feasibility study to develop a 4,000MW hydro power plant on the Salawin river. Thailand’s electricity needs are mostly met by natural gas (70%), coal (17%) and oil (10%), while hydro power accounts for only 3%, according to...

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