(EnergyAsia, June 26, Friday) — Malaysian state energy company Petronas has signed a contract with the Australian consortium GLNG to import two million tonnes of liquefied natural gas (LNG) for 20 years starting 2014. Petronas, which owns a 40% stake in the GLNG consortium, has the option to purchase an additional one million t/y on...
(EnergyAsia, June 25, Thursday) — The oil-rich Middle East region could soon face a severe shortage of natural gas as it struggles to meet surging electricity demand and feedstock for petrochemicals. The gas is needed to generate electricity and to power desalination plants, and provide the feed for petrochemicals production and energy-intensive industries. Analysts believe...
(EnergyAsia, June 25, Thursday) — The US navy is taking a more active role in securing the Gulf of Guinea off West Africa from pirates and potential terrorists. Africa is increasingly becoming an important supplier of oil and resources to the US as the Obama administration is working to reduce dependence on the politically volatile...
(EnergyAsia, June 25, Thursday) — China will begin constructing pipelines to deliver oil and gas across Myanmar in September. PetroChina which is leading the project said this will be the fourth set of major pipelines delivering oil and gas into China. These include the pipelines from Turkmenistan, Kazakhstan and Russia. In March 2009, the Chinese...
(EnergyAsia, June 25, Thursday) — ‘Clean coal’ has been garnering popular support as the solution to both meet the world’s energy need and imperative for a green environment. The industry has been quick to promote it, even enlisting the support of US President Barack Obama who has added “energy independence” to what clean coal can...
(EnergyAsia, June 25, Thursday) — Eight people were killed and five others injured when a PetroChina liquefied natural gas storage (LNG) tank under construction in China’s Jiangsu province collapsed. Of the dead, two were killed immediately while the other six perished apparently from lack of medical attention. The LNG tank, due to come onstream in...
(EnergyAsia, June 25, Thursday) — Climate change experts from leading non-governmental organisations (NGOs) have unveiled their blueprint for a legally binding Copenhagen agreement. The “Copenhagen Climate Treaty” was drafted by Greenpeace, WWF, IndyACT – the League of Independent Activists, Germanwatch, David Suzuki Foundation, National Ecological Centre of Ukraine and expert individuals from around the world....
(EnergyAsia, June 24, Wednesday) — The Philippine government is debating a bill to provide for the establishment of the country’s first strategic petroleum reserve (SPR). Unlike the crude oil stockpiles operated by the US, Japan and China, the bill proposes that the Philippines stock up on oil products. House Minority Leader Teofisto Guingona III filed...
(EnergyAsia, June 24, Wednesday) — For the first time since the end of the Second World War, global electricity consumption is headed for a decline this year, said the International Energy Agency (IEA). The Paris-based agency foresees a 3.5% drop in demand in 2009, reflecting the weak state of the world economy. China’s electricity demand...
(EnergyAsia, June 24, Wednesday) — Indonesia’s state finances will come under pressure as rising electricity demand will drive up subsidy payments. The government is worried that the budget allocation for the electricity subsidy could exceed 48 trillion next year, sharply higher than the 42.46 trillion rupiah this year. (US$1=10,100 rupiah). Indonesia’s electricity consumption is expected...
(EnergyAsia, June 24, Wednesday) — Several Western companies have registered their interest in bidding for oil and gas exploration rights in war-torn Afghanistan. The government of President Hamid Karzai recently offered two natural gas blocks and one oil block for bidding. The bocks are close to Afghanistan’s border with Turkmenistan. Government officials said they recently...
(EnergyAsia, June 24, Wednesday) — Intertek, a global provider of quality and safety solutions to a range of industries worldwide, said it has opened a new facility in Bangladesh to expand its support to the global petroleum and agriculture industries. The company said the expansion complements its growing network of service locations in South Asia...
(EnergyAsia, June 24, Wednesday) — Government leaders, policymakers, and climate change experts from around the world met in Manila, the Philippines last week for a high-level dialogue and a series of technical meetings aimed at helping Asia-Pacific countries move toward low-carbon and climate-resilient development paths. Hosted by the Asian Development Bank (ADB), the Climate and...
(EnergyAsia, June 24, Wednesday) — The Asian Development Bank (ADB) said it plans to “substantially increase” its clean energy investments to $2 billion a year from a previous target of $1 billion as part of its programme to accelerate low carbon growth and reduce greenhouse gas emissions in the region. The new investment target is...
(EnergyAsia, June 23, Tuesday) — The Exhaust Gas Cleaning Systems Association (EGCSA) has hailed news that the US and Canada plan to introduce Emissions Control Areas (ECAs) in North America as an opportunity for ship owners to incorporate abatement technology to comply with the new laws. The decision taken on March 31 by the US...
(EnergyAsia, June 23, Tuesday) — International companies seem to be split on the wisdom of investing in Indonesia’s coal mining industry. Australia’s BHP Billiton plans to end its 25-year presence in Indonesia’s mining and transportation sector while India’s state-run Power Trading Corp (PTC) is hoping to buy into Indonesian coal mines. BHP feels that...
(EnergyAsia, June 23, Tuesday) — Intertanko, the association of tanker owners, has called on the International Maritime Organisation (IMO) to establish target levels for the energy efficiency for new ships. In its recent submission to the upcoming IMO Marine Environment Protection Committee, Intertanko said setting such targets would become part of the discussions on the...
(EnergyAsia, June 23, Tuesday) — World oil demand will fall by a smaller amount, said the International Energy Agency (IEA) as it raised its 2009 demand forecast for the first time since last August. It sees the 2009 oil demand falling by 2.47 million b/d (or 2.9%) to 83.3 million b/d, an improvement over the...
(EnergyAsia, June 23, Tuesday) — Three international consultants have issued starkly contrasting views on the prospects for the liquefied natural gas (LNG) market. UK’s Wood Mackenzie is predicting a very bearish outlook for next year, in sharp contrast to Canada’s Tristone Capial Inc which expects rising prices from next month, while US Poten and Partners...
(EnergyAsia, June 23, Tuesday) — Under pressure from a growing global glut and weakening demand, natural gas prices could collapse as early as this summer, said UK energy consultant Wood Mackenzie. The worldwide glut has already driven down spot natural gas prices over the past year as the market increasingly favours buyers. Noel Tomnay, the...
(EnergyAsia, June 15) — The Indonesian government said it will soon release new regulations governing the domestic supply obligations of the country’s coal mining companies. The new regulations, which could become effective as early as 2010, will provide for what has been called a “domestic market obligation” (DMO) for coal firms, said Energy and Mineral...
(EnergyAsia, June 22, Monday) — Strong coal demand from China has pushed Asian coal prices to over US$60 per tonne. Analysts expect Chinese coal demand to remain strong on growing demand from its recovering economy. Chinese coal import is surging as the government appears to be making good its promise to shut down some of...
(EnergyAsia, June 22, Monday) — Australian upstream company Stuart Petroleum is venturing into the fuel storage and distribution business. The company recently submitted an application to develop a terminal capable of importing, storing and distributing over 500 million litres of diesel fuel annually to service the needs of diesel consumers in the northern and western...
(EnergyAsia, June 22, Monday) — Nigeria’s crude oil production has fallen to half its capacity as a result of the constant military attacks and political instability in the Niger Delta producing area. Production has hovered around 1.6 million b/d since 2006 as rebels and an assortment of local armed gangs have been targeting oil plants,...
(EnergyAsia, June 22, Monday) — The Indonesian government plans to set up a clearing house to handle coal exports and trade that would ensure producers set aside certain volumes for domestic users. The clearing house would address supply concerns and prevent domestic miners from exporting their entire production. Indonesian power companies complain that they are...