US: Energy imports at 20-year low as pressure grows on Washington DC to fast-track LNG export plants

(EnergyAsia, April 10 2014, Thursday) — Rising domestic oil and gas production has enabled the US to slash net energy imports to a 20-year low while raising the pressure on the Obama administration to fast-track the development of liquefied natural gas (LNG) exports, said analysts. According to the Energy Information Administration (EIA), US net imports...

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QATAR: QP and partners start work to double size of Laffan Refinery 2 project

(EnergyAsia, April 9 2014, Wednesday) — A Qatar Petroleum-led consortium (QP) has begun work to double the size of its condensate refinery at the Ras Laffan Industrial City to 300,000 b/d by the third quarter of 2016. QP jointly owns the LR2 company with France’s Total, and Japan’s Idemitsu, Cosmo, Marubeni and Mitsui. Both LR2...

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JAPAN: Emissions reduction goal abandoned amid increased focus on oil and coal

(EnergyAsia, April 9 2014, Wednesday) — Japan’s greenhouse gas emissions are expected to rise as its energy-starved economy consumes more oil and coal to offset the loss of nuclear energy and the rising cost of imported natural gas. The Japanese economy is increasingly feeling the burden of rising energy cost brought on by the complete...

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COMPANY: BG Group moves global centre for LNG and oil marketing to Singapore

(EnergyAsia, April 8 2014, Tuesday) — BG Group said it has relocated the head office for its global liquefied natural gas (LNG) and oil marketing business to Singapore from the UK, reflecting its focus on the growing importance of Asian energy markets. Steve Hill, BG Group’s President for Global LNG and Oil Marketing who is...

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AUSTRALIA: BP’s refinery closure fans fear of further fuel import dependence

(EnergyAsia, April 8 2014, Tuesday) — Australia’s fears for its growing fuel import dependence rose another notch last week when BP said it plans to close a 102,000 b/d refinery in Queensland state that has been operating since 1965. When the Bulwer Island refinery in Brisbane shuts around mid-2015, Australia will be left with just...

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ASIA: UN agencies call on region’s planners to improve water and energy policies

(EnergyAsia, April 7 2014, Monday) –– Asia Pacific countries must improve their water and energy policies to ensure the sustainability of their societies and long-term economic prospects, said two UN agencies and the Thai government. In making this call in Bangkok last month to mark World Water Day (WWD), the UN agencies reminded Asian leaders...

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MALAYSIA: Petronas to proceed with US$27b Johor downstream complex, but delays start-up to 2019

(EnergyAsia, April 7 2014, Monday) — Bowing to domestic pressure, Malaysia’s state-owned energy Petronas has decided to proceed with its hotly debated proposal to invest US$27 billion in an oil-petrochemical complex in southern Johor state. Last week, Petronas said it had approved the project’s final investment decision (FID) although it will delay the refinery’s start-up...

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CHINA: LNG sector continues to attract International participation

(EnergyAsia, April 4 2014, Friday) — French major Total and US engineering firms Black & Veatch and Chemtex have advanced on their plans to expand their liquefied natural gas (LNG) operations in China. Total said it has agreed to build on its partnership with China National Offshore Oil Corporation (CNOOC) beyond an existing 15-year agreement...

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MYANMAR: Economy growing by more than seven percent, faces inflationary pressure, widening current account deficit

(EnergyAsia, April 4 2014, Friday) — As it continues to open up to the world, Myanmar’s rapidly growing economy faces the twin threats of rising inflation and a widening current account deficit, said the International Monetary Fund (IMF). Real GDP is expected to grow by 7.75% for the current year to March 31 2015 after...

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ASIA: World Bank Group approves US$526 million financing and grant to boost electricity trade between four countries

(EnergyAsia, April 3, 2014, Thursday) — The World Bank Group said its board has approved US$526.5 million in grant and credit financing to develop electricity infrastructure connecting Afghanistan, Kyrgyz Republic, Pakistan and Tajikistan. The US$1.17 billion Central Asia South Asia Electricity Transmission and Trade Project (CASA-1000) consists of the construction of more than 1,200 km...

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SINGAPORE: SGX seeking feedback for plans to launch electricity futures contract

(EnergyAsia, April 3 2014, Thursday) — The Singapore Exchange (SGX) is seeking public feeback for its plans to launch an electricity futures contract to help consumers manage their energy costs and producers hedge their costs in a more competitive market. SGX is proposing to launch the contract on its derivatives trading platform and settled trades...

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MALAYSIA: Petronas aims to raise hydrocarbon production by at least 3% p.a. through 2018

(EnergyAsia, April 2 2014, Wednesday) — Pronouncing the end of he cheap oil era, a senior Petronas executive said the company is aiming to grow its hydrocarbons production by between 3% and 3.5% a year from now through 2018. Executive vice-president of exploration and production Wee Yiaw Hin said the company is also looking to...

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THE ARCTIC: Singapore invited to present at Arctic Council meeting, Canada downplays development prospects

(EnergyAsia, April 2 2014, Wednesday) — As it eyes a role in helping to develop the natural resources and trade route potential of the Arctic region, Singapore will be given the chance to present its capabilities and how it can contribute at an Arctic Council meeting in Tromso city in Norway next January. Norway’s senior...

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MARKETS: World Energy Council and World Water Council step up partnership

(EnergyAsia, April 1 2014, Tuesday) — The World Energy Council (WEC) and World Water Council (WWC) said they have joined forces to focus on the growing link between water and energy in the run-up to the 7th World Water Forum to be held in Daegu, South Korea in April 2015. In the agreement, the two...

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SINGAPORE: Delegation invited to present at Arctic Council meeting in Norway

(EnergyAsia, April 1 2014, Tuesday) — As it eyes a role in helping to develop the natural resources and trade route potential of the Arctic region, Singapore will be given the chance to present its capabilities and how it can contribute at an Arctic Council meeting in Tromso city in Norway next January. Norway’s senior...

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