(EnergyAsia, March 19, Thursday) — China’s state-owned CNOOC Ltd said it plans to import two million tonnes of liquefied natural gas from Qatar in the third quarter, marking the start of LNG trade between the two countries.China last year signed a 25-year term deal to import around 78 million tonnes of LNG from Qatar, the...

(EnergyAsia, March 19, Thursday) — The 12 members of the Organisation of the Petroleum Exporting Countries (OPEC) pumped an average 28.07 million barrels per day (b/d) in February, as the cartel continued its efforts to slash oversupply and prevent oil prices falling further, according to a Platts survey of OPEC, oil industry officials and analysts....

(EnergyAsia, March 19, Thursday) — Denmark’s Maersk Tankers said it is prepared to venture into the carbon dioxide transportation market to help promote carbon capture and storage (CCS), one of the technologies identified as key to mitigate the effects of climate change.“With this initiative we want to show industrial leadership by demonstrating we can act...

 (EnergyAsia, March 19, Thursday) — Cambodia is being corrupted by its new oil and mining riches, and donor nations are aiding the process by not acting against the country’s political, business and military elite, said an anti-graft non-government organisation (NGO). In a hard-hitting report, Washington DC-based Global Witness warned that Cambodia’s future is being jeopardised by...

 (EnergyAsia, March 19, Thursday) — The global financial crisis slashed the value of financial assets worldwide by a massive $50 trillion last year, with developing Asia suffering more than other emerging market regions, said the Asian Development Bank (ADB).A study commissioned by the bank found that losses on financial assets in developing Asia in 2008...

(EnergyAsia, March 18, Wednesday) — Europe could soon face an oversupply of carbon credits as the global recession worsens and weakens demand, traders said. Already, EU carbon prices are down almost 70% from last July when they traded at a two-year high. Traders said slower economic growth in Europe and around the world is undermining...

(EnergyAsia, March 18, Wednesday) — Singapore needs to step up plans to expand its capacity for storing oil and petrochemical products as it is running up against land constraint, said industry and government officials. Land supply on the Jurong Island oil and petrochemicals hub is near exhausted, forcing the country to push for offshore storage...

(EnergyAsia, March 18, Wednesday) — Platts, the energy information arm of McGraw-Hill, has launched LNG TraderNet, an online service designed to provide traders, analysts, and the other members of the LNG community with “one-stop” market intelligence and analytical tools. The new web-based service features a comprehensive range of resources, including price assessments, fundamental market data,...

(EnergyAsia, March 18, Wednesday) — Norway’s Flex LNG Management Ltd (Flex) and Korea’s Samsung Heavy Industries (SHI) have agreed to delay delivery dates for their planned four floating liquefied natural gas (LNG) units. Last December, Flex had put off finalising its deal with Japan’s Mitsubishi Corporation (MC) for construction of the world’s first floating LNG...

(EnergyAsia, March 18, Wednesday) — The rapid rollout of transport infrastructure in China has helped catalysed its economic growth, but attention must now shift to developing environmentally sustainable transport systems that can help cut the country’s heavy reliance on oil, said the Asian Development Bank (ADB). In a new publication, Promoting Environmentally Sustainable Transport in...

(EnergyAsia, March 18, Wednesday) — The Australian Securities Exchange (ASX) said it will begin offering thermal coal futures and options contracts from April 21. It will also offer contracts for New Zealand electricity and gas futures contracts shortly after. These products are the first tranche in a suite of new energy and environmental products that...

(EnergyAsia, March 18, Wednesday) — Seventeen Asian institutions of learning including China’s Tsinghua University and the Indian Institute of Technology are represented in an international consortium to advance the cause of clean coal technology. The Consortium for Clean Coal Utilisation was recently launched by Chancellor Mark S. Wrighton of the Washington University in St. Louis...

(EnergyAsia, March 17, Tuesday) — Asia’s over-the-counter (OTC) oil product derivatives markets showed signs of recovery in February after being hit hard by the global credit crisis and the volatility in oil prices. Traders said there was more confidence and volume in the market as evidenced by the improved liquidity. Fears of credit defaults appeared...

(EnergyAsia, March 17, Tuesday) — Russia appears to be taking a more active interest in dealing with water and energy issues in neighbouring Central Asia. Russian President Dmitry Medvedev recently signaled Moscow’s increased activism when he said planned projects in Kyrgyzstan and Tajikistan should only proceed if they took into account the interests of other...

(EnergyAsia, March 17, Tuesday) — Researchers at Harvard University and IBM have launched a project to find new organic materials that can be used to produce efficient and lower-cost solar cells.   Solar energy will only become a significant contributor to world energy supplies if the cost of producing solar cells can be sharply reduced.  ...

(EnergyAsia, March 17, Tuesday) — International energy services company John Wood Group PLC said it is strengthening its operation in Abu Dhabi in the UAE with a move into a new office and the consolidation of operations. The group’s subsea and pipeline engineering company, J P Kenny, also operates in Abu Dhabi and will collaborate...

(EnergyAsia, March 17, Tuesday) — China’s CNPC International Ltd has agreed to pay C$10 per share in an all-cash deal to acquire Canadian upstream company, Verenex Energy Inc. The Calgary, Alberta-based company, which is majority-owned by another Canadian firm, Vermilion Energy Trust, said the transaction will be worth C$499 million. (US$1=C$1.27). Verenex said it agreed...

(EnergyAsia, March 17, Tuesday) — Japan’s Mitsubishi Corp has bought a 34% stake in Amper Central Solar, the developer of Portugal´s Amareleja (Moura) PV solar plant, 100% owned by Spain’s ACCIONA. The 45.8MWp plant is the world’s largest grid-connected photovoltaic solar plant and required an investment of 261 million Euros. It has an estimated annual...

(EnergyAsia, March 17, Tuesday) — AugustEnergy’s recent bunker course, Bunkering Principles, Management & Operations, attracted a larger-than-expected number of participants from seven countries. More than 50 industry professionals attended the two-day event held in Singapore on February 24 to 25, exceeding the 30 that the company had planned for. While the majority were Singapore-based, several...

(EnergyAsia, March 16, Monday) — Malaysia’s Changhuat Corp Bhd said it is looking to develop its oil and gas activities into its leading business segment.The company is currently focused on plastic injection parts and components. However, margins in that business are quickly eroding because of stiff competition from China and Vietnam, as well as the...

(EnergyAsia, March 16, Monday) — Indonesian officials expect their country’s production of liquefied natural gas (LNG) to fall by over 2% in 2009.They predict the national output will be dragged down by lower production at the Bontang LNG facility in East Kalimantan.Indonesia is expected to produce 349 cargoes of LNG this year, down from 359...

(EnergyAsia, March 16, Monday) — As part of a nation-wide Green IT Industry Development Initiative, the Institute of Systems Science of the National University of Singapore (NUS-ISS), Singapore Business Federation (SBF), and IBM, jointly held a seminar on green computing and IT for energy efficiency on February 24.The initiative was supported by Association of Small...