JAPAN: Idemitsu Kosan in joint venture to export LNG and LPG from Canada

(EnergyAsia, January 31 2013, Thursday) — One of Japan’s largest oil companies, Idemitsu Kosan, has become the latest member of a crowded bandwagon proposing to build a liquefied natural gas project in western Canada for export to Asia. Japan’s third largest refiner will form an equal joint venture with Calgary, Alberta-based pipeline operator AltaGas to (more…)

MARKETS: Is globalisation reaching a tipping point? BDP survey finds trade flows becoming more inter-regional

(EnergyAsia, January 31 2013, Thursday) — Global trade flows are becoming more inter-regional as companies move production closer to end markets, suggesting that globalisation could be at a turning point, according to a survey by an international logistics firm. “Global trade flows from manufacturers in the East to consumers in the West are undergoing a (more…)

SAUDI ARABIA: SABIC to open four new technology centres this year

(EnergyAsia, January 31 2013, Thursday) — Saudi Basic Industries Corporation has announced the opening of four new state-of-the-art technology and innovation facilities in 2013, two in Saudi Arabia and one each in India and China, bringing the total number of its research facilities around the world to 18. The new centres represent a strategic investment (more…)

JAPAN: LNG, oil imports contributed to 2012’s record high trade deficit

(EnergyAsia, January 31 2013, Thursday) — Japan’s trade deficit soared 170% to a record 6.9 trillion yen last year on the back of surging energy imports and lower export earnings. (US$1=90 yen). The world’s third largest economy reported a 3.8% rise in import expenditure and a 2.7% decline in export earnings for 2012. Energy accounted...

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INDONESIA: Regulator predicts reduced LNG output in 2013

(EnergyAsia, January 30 2013, Wednesday) — Liquefied natural gas (LNG) consumers will have further reason to prepare for higher prices as the world’s third largest supplier said its production could decline by more than six percent this year to 297 cargoes. Each shipment of LNG cargo varies between 125,000 and 175,000 metric tons. Indonesia’s oil...

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VIETNAM: PetroVietnam and partners agree to build 200,000 b/d refinery

(EnergyAsia, Jan 30 2013, Wednesday) — State PetroVietnam has signed an agreement with Japanese and Kuwaiti companies to jointly build a long-delayed 200,000 b/d refinery in the coastal town of Nghi Son located about 200 km south of Hanoi city. The US$9 billion plant in Thanh Hoa province will process heavy Kuwaiti crude oil to (more…)

IRAQ: GE unit opens new facility near Basra to help boost oil and gas production in Rumaila

(EnergyAsia, January 30 2013, Wednesday) — GE Oil & Gas has announced the establishment of a new technology and service centre near Basra City to support development and production of Iraq’s oil-rich North Rumaila region. The facility, which was opened earlier this month, brings the latest GE technology and expertise to local customers to help (more…)

CHINA: Five killed in oil storage tank explosion

(EnergyAsia, January 30 2013, Wednesday) — Five people were killed and several others injured when an oil storage tank exploded in central China’s Hunan Province early this week. Most of the victims were in the vicinity of the tank in a residential building under construction in a village in Xiangtan City. The incident was believed...

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MARKETS: IEA boosts forecast for 2013 world oil demand, cites China

(EnergyAsia, January 29 2013, Tuesday) — Citing rising consumption in China, the International Energy Agency (IEA) has raised its forecast for 2013 world oil demand growth for the second consecutive month. In its latest January monthly report, the Paris-based agency said world oil demand will grow by 930,000 b/d to 90.8 million b/d in 2013,...

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INDIA: Natural gas price could double on oil ministry support

(EnergyAsia, January 29 2013, Tuesday) — India’s consumers could face sharply higher energy costs this year as the Ministry of Petroleum and Natural Gas has agreed to let domestic natural gas prices rise to US$8.5 per million metric British thermal unit (mmBtu) from their current level of US$4.2. As natural gas is used mostly for...

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MARKETS: OPEC maintains forecasts for 2013 world oil demand growth for third consecutive month

(EnergyAsia, January 29 2013, Tuesday) — For the third consecutive month, the Organisation of Petroleum Exporting Countries (OPEC) has kept its forecasts for global oil demand to grow by just under 800,000 b/d for 2013. With no major revision to its November and December outlook, OPEC said it expects world demand to grow by 760,000 (more…)

MARKETS: Global demand for LNG to exceed supply in 2013, says BG executive

(EnergyAsia, January 29 2013, Tuesday) — Asia could face higher liquefied natural gas (LNG) prices as global demand for the fuel is set to exceed supply this year, said Steve Hill, vice president of global LNG and oil marketing at UK’s BG Group. LNG spot prices in Asia have stayed stubbornly in the US$15-$20 per...

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KYRGYZSTAN: Celsius Coal positioned to benefit from proposed Trans-Asia railway linking Central Asia and China

(EnergyAsia, January 28 2013, Monday) — The Chinese government has completed a feasibility study for the construction of the Trans-Asia Railway linking China with Central Asia, according to a regional coal player citing Kyrgyzstan’s Transport Ministry. Australia’s Celsius Coal Limited, which is developing coking coal deposits in Kyrgyzstan’s Uzgen Basin, said the proposed railway route (more…)

AUSTRALIA: International Coal appoints Simpson as CEO

(EnergyAsia, January 28 2013, Monday) — PEOPLE: Australia’s International Coal Limited has announced the appointment of Glenn Simpson as CEO and the resignation of Managing Director Hugh Dai. A trained geologist with an honours degree in Applied Science (Geology) and a Graduate Diploma of Business Administration, Mr Simpson has over 20 years of experience in (more…)

CHINA: IEA spells out four sets of challenges to reforming natural gas industry

(EnergyAsia, January 28 2013, Monday) — China faces four major challenges in reforming its natural gas sector to help meet a targeted doubling in consumption to 260 billion cubic metres by 2015 from 2011 levels, said the International Energy Agency (IEA). Planners will face their most important challenge in aligning domestic gas prices with the...

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SOUTH KOREA: Korea Gas Corp, DNV to jointly launch feasibility study on establishing LNG as bunker fuel

(EnergyAsia, January 25 2013, Friday) — Norway’s DNV said it and Korea Gas Corp (KOGAS) have signed an agreement to jointly study the feasibility of establishing an liquefied natural gas (LNG) bunkering infrastructure in South Korea. The study will focus on the ports in the south-eastern area of Pusan, and western areas around Incheon and (more…)

RUSSIA: Fitch says oil production is nearing peak after reaching post-Soviet high in 2012

(EnergyAsia, January 25 2013, Friday) — After reaching a post-Soviet record last year, Russian oil production will probably peak in the next few years as the gains from new oil fields are offset by falling output from brownfield sites, said US ratings agency Fitch. The Soviet Union collapsed in 1991. According to the Ministry of...

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ASIA: Kitsault Energy promotes Canada’s Kitsault town as quickest and cheapest launchpad for LNG exports

(EnergyAsia, January 25 2013, Friday) — Kisault, a town located 800 km north of Vancouver in Canada’s British Columbia province, offers investors the quickest and cheapest platform to export liquefied natural gas (LNG) and other energy products, said newly established Kisault Energy. Kisault, a purpose-built resource town with infrastructure and housing for more than 1,000 (more…)

RUSSIA: Mechel sold part of controlling stake in Vanino sea trade port to investors

( (EnergyAsia, January 25 2013, Friday) — Mechel, a leading Russian mining and metals companies, said it has sold a part of its earlier acquired controlling stake in the Vanino port on the Pacific coast to investors. In line with the conditions for financing the acquisition of a 55% stake in Vanino Sea Trade Port,...

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QATAR: LNG exports to face international competition after 2017, says IMF

(EnergyAsia, January 24 2013, Thursday) — The International Monetary Fund (IMF) has provided an update on Qatar’s liquefied natural gas (LNG) industry as part of its latest assessment of the economy of the Middle Eastern country. Qatar holds 12% of the world’s proven 7,361 trillion cubic feet of natural gas reserves, putting it in third...

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RUSSIA: Gunvor and partner secure US$110 million financing facility for Black Sea fuel oil terminal

(EnergyAsia, January 24 2013, Thursday) — Commodities trader Gunvor Group said it and partner Novorossiysk Commercial Sea Port (NCSP) have secured a seven-year credit facility for US$110 million from ZAO Raiffeisenbank for their jointly-owned fuel oil terminal in the Black Sea. Their equally-owned Novorossiysk Fuel Oil Terminal (NFT) will draw on the facility to refinance (more…)

CHINA: Oil demand could set another record high in 2013 after rising 3.4% to in 2012, says Platts

(EnergyAsia, January 24 2013, Thursday) — Boosted by an end-of-the-year surge, China’s oil demand rose 3.4% to a record high of 9.68 million for 2012, said US energy media Platts. And it could go higher this year if the economy continues to improve and the government maintains its stimulus measures. December’s consumption was up 7.7%...

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MALAYSIA: BASF pulls out of proposed specialty chemicals venture in Johor

(EnergyAsia, January 23 2013, Wednesday) — Germany’s BASF and Malaysian state energy firm Petronas said they have terminated an agreement to jointly develop a specialty chemicals venture that was part of a proposed RM120-billion oil-petrochemical complex to be developed in the southern state of Johor. (US$1=RM3.05). According to the heads of agreement the companies signed (more…)

MARKETS: Trading volumes for Brent futures surpassed WTI in 2012

(EnergyAsia, January 23 2013, Wednesday) — Brent crude’s position as the global benchmark was confirmed last year when its futures trading volume last year exceeded US WTI for the first time. According to the US Energy Information Administration (EIA), trades in the Brent contract surged while the WTI volume fell in response to the growing...

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ENVIRONMENT: Greenpeace says emissions to rise further on “government hypocrisy” in support of fossil fuel projects

(EnergyAsia, January 23 2013, Wednesday) —– Greenpeace said “government hypocrisy” in support of major fossil fuel projects around the world is fuelling climate change and placing populations at risk. In a new report studying 14 carbon-intensive projects around the world, the environmental group said government support has raised the threat posed by a planned massive (more…)