(EnergyAsia, July 21 2015, Tuesday) — With global energy demand growing at a much slower rate than expected, a UK lobby group predicts companies may have to delay or cancel proposed liquefied natural gas (LNG) projects worth a total of US$283 billion through 2025….
(EnergyAsia, July 20 2015, Monday) — India’s natural gas deficit will fall by nearly 58% over the next 10 years as annual supply will rise by nearly 8.5% to outpace domestic demand’s annual 3.8% growth, predicts credit rating agency ICRA….
(EnergyAsia, July 15 2015, Wednesday) — Crude prices have recovered from the initial sell-off following Tuesday’s news of Iran’s successful talks with the UN Security Council and Germany (P5+1) over the lifting of trade sanctions in exchange for tight restrictions and inspections on its nuclear programme. The five UN Security Council members include the US,…
(EnergyAsia, July 2 2015, Thursday) — China Petrochemical Corp, or Sinopec, will fulfil its annual purchase of 7.6 million tonnes of liquefied natural gas (LNG) that forms a crucial part of an agreement for a joint venture project in Australia, said Origin Energy Limited….
(EnergyAsia, July 1 2015, Wednesday) — The proponents of a US$10-billion pipeline network to deliver natural gas from Turkmenistan to Afghanistan, Pakistan and India (TAPI) are hoping to start work by December after more than two decades of delay….
(EnergyAsia, July 1 2015, Wednesday) — Turkmenistan’s decision to devalue its currency by 22% on January 1 will help its economy grow by nine percent this year but the current account deficit will more than double from last year’s 5.9% of GDP, said the International Monetary Fund (IMF)….
(EnergyAsia, June 30 2015, Tuesday) — With so much uncertainty on the economic and geopolitical fronts, the Organization of Petroleum Exporting Countries (OPEC) has frozen its crystal ball on how much oil the world will be consuming over the next two years in its latest monthly report for June….
(EnergyAsia, June 30 2015, Tuesday) — Largely in response to lower oil prices, Kazakhstan, Azerbaijan and Turkmenistan will reduce crude and condensate production by a combined 50,000 b/d in 2015 from last year’s 2.86 million b/d predicts the Organisation of Petroleum Exporting Countries (OPEC)….
(EnergyAsia, June 29 2015, Monday) — Japan’s Mitsubishi Heavy Industries, Ltd (MHI) said it has received an engineering, procurement and construction (EPC) order from Indian Oil Corporation Ltd to construct two storage tanks for a liquefied natural gas (LNG) terminal 25km north of Chennai city, formerly known as Madras….
(EnergyAsia, June 28 2015, Sunday) — European commodities trader Trafigura said it has signed an agreement with Singapore LNG Corporation Pte Ltd (SLNG) to use excess storage capacity at the company’s liquefied natural gas (LNG) terminal on Jurong Island. SLNG is the owner and operator of the country’s first LNG terminal that is capable of...
(EnergyAsia, June 16 2015, Tuesday) — In attaching two major conditions to its twice-delayed final investment decision (FID), Malaysian state energy firm Petronas has thrown the initiative back to Canada over the fate of its proposal to build a C$36 billion liquefied natural gas (LNG) project in British Columbia province. (US$1=C$1.25)….
(EnergyAsia, June 9 2015, Tuesday) — Chinese officials said they expect the country to invest a total of nearly US$900 billion in more than 900 projects under its strategy to develop an expanded Silk Route and a new maritime belt to connect various parts of the world….
(EnergyAsia, June 9 2015, Tuesday) — The eight economies of Central Asia and the Caucasus will experience a sharp slowdown in growth this year on the twin negative impacts of weak global commodity prices and Russia’s financial troubles, said the International Monetary Fund (IMF)….
(EnergyAsia, May 29 2015, Friday) — Crude prices have survived months of heavy selling pressure despite evidence of a growing glut since the start of the year. As Organization of Petroleum Exporting Countries (OPEC) ministers prepare to meet in Vienna on June 5, they will note with some satisfaction that prices have recovered by more…
(EnergyAsia, May 29 2015, Friday) — In signing a much-awaited memorandum of understanding (MOU) and two major agreements with Pacific NorthWest LNG (PNW) on May 20, the British Columbia government made good its promised support for the company’s proposed project to produce liquefied natural gas (LNG) in northern BC for export to Asia….
(EnergyAsia, May 27 2015, Wednesday) — After a delay of about a year, Australia has launched commercial operations at the world’s first plant to convert coalbed methane (CBM) to liquefied natural gas (LNG)….
(EnergyAsia, May 25 2015, Monday) — Crude prices are holding onto recent gains as the market is divided between reports of the growing global oil surplus and escalation in Middle East violence with the Islamic State (ISIS) expanding its territorial control and launching a first attack inside Saudi Arabia….
(EnergyAsia, May 20 2015, Wednesday) — The global oil glut is about to worsen, according to the US Energy Information Administration (EIA) which has raised its forecast for global oil supply over the next two years to widen the gap over demand….
(EnergyAsia, May 11 2015, Monday) — Asia, Russia and Europe will account for the bulk of the global shutdown of as much as two million b/d in oil refining capacity over the next 18 months, said a US-based consulting firm….
(EnergyAsia, May 4 2015, Monday) — Australia’s upstream sector is worried even though it appears to be thriving after producing record volumes of natural gas and liquefied natural gas (LNG) last year, and boosting crude and condensate output by more than 18%. The sector’s outlook has worsened following the collapse of global oil and gas…
(EnergyAsia, April 30 2015, Thursday) — The US Energy Information Administration (EIA) has slashed its forecast for global oil supply next year as more US shale-based producers buckle under the financial pressures of low oil prices and reduced financing for the industry….
(EnergyAsia, April 29 2015, Wednesday) — India’s northwestern Gujarat state is consolidating its status as the country’s main energy hub with plans to add two liquefied natural gas (LNG) import terminals to its existing 15 million tons/year capacity….
(EnergyAsia, April 24 2015, Friday) — Australian mototrists will bear the brunt of the country’s plan to invest “billions and billions and billions of dollars” to raise its strategic petroleum reserves to meet at least 90 days of consumption from the current level of 52 days, said Industry Minister Ian Macfarlane….
(EnergyAsia, April 22 2015, Wednesday) — Weighed down by sluggish exports, India failed to make the most of the windfall provided by nine months of lower oil prices as it reported a wider merchandise trade deficit for the last financial year to March 31 2015….
(EnergyAsia, April 21 2015, Tuesday) — Pakistan, one of the world’s most politically unstable countries and often rated a failed state, is attracting big investment bets from China and Russia….