subsidiary, BG LNG Trading, has agreed to supply Hong Kong-based Castle Peak Power Company (CAPCO) one million tonnes of liquefied natural gas (LNG) per year for up to 20 years. BG LNG Trading will begin delivering the LNG, sourced from various parts of the world, to Hong Kong’s planned import terminal on South Soko Island...
for blast-furnace-gas (BFG) fired gas turbine combined-cycle (GTCC) power generation plants from China and Korea. The two purchases will contribute to better air quality in the two countries. Qian’an Iron and Steel Works, part of Chinese steelmaker Shougang Group, has ordered a 150 megawatt (MW) plant while Korea’s largest independent power producer, POSCO Power Corp,...
road project with Kazakhstan to upgrade the trade route linking Asian countries with Russia and Europe. The project is expected to boost Kazakhstan’s competitiveness and to bring significant economic benefits to the country and the broader Central Asia region. The World Bank is expected to finance and rehabilitate a 1,025 km stretch of road between...
market by 2012, said US-based information provider for the global forest products industry. In its ‘International Woodfiber Report (IWR)’, RISI said the market’s explosive growth is not only due to multi-billion investments from private equity firms and Fortune 500 corporations but is also a result of numerous legislative initiatives including the new Farm Bill. The...
which include Continental and Virgin Atlantic Airways LLC, in the newly formed Algal Biomass Organisation (ABO). They will be the first wave of aviation-related members to join the organisation along with biofuel technology developer UOP LLC. The airlines together with Boeing, which co-chairs the ABO, are advocating the development of new generations of fuel sources...
it has completed a major upgrade of its Banksmeadow fuel distribution terminal to handle 10% ethanol-blended fuel and serve the markets in Sydney and the New South Wales markets. Minister for Lands, Rural Affairs and Regional Development Tony Kelly launched the new ethanol facilities as fuel tankers lined up to load Bio E10 unleaded gasoline...
each consisting of 25 units of the V80-2.0 MW wind turbine for the Danianzi I and the Bolike II windfarm projects in China. Both projects are located 150 km northeast of Chifeng in Inner Mongolia in the northern part of China. The contracts include supply of the turbines including towers, the VestasOnline Business SCADA solution...
are collaborating to develop new, low-cost methods for bringing the next generation of solar energy products to market. The companies said the new products will be more affordable and easier to install than those available today. Specifically, TOK and IBM have agreed to jointly develop processes, materials, and equipment suitable for the production of copper-indium-gallium-selenide...
agreement with Qatar’s RasGas Company Limited covering two liquefied natural gas (LNG) trains and Al-Khaleej Gas (AKG) Plant-2 at RasGas’ complex in Ras Laffan Industrial City in Qatar. The project supports Qatar’s strategy to become the world’s leading supplier of LNG. An LNG train is a chain of equipment, including a gas turbine, which...
stockpile and stockpiling infrastructure. Pakistan has been hard hit by the recent surge in oil prices, raising its crude import bill by 40% over the past 10 months. It imports some 250,000 b/d of crude oil from Saudi Arabia. According to Asif Ali Zardari, co-chairman of Pakistan’s ruling PPP party, Saudi Arabia has indicated it...
have disrupted traffic, trade and goods distribution in its capital city of Doha. State-owned Woqod, the city’s only diesel distributor, is unable to meet demand, forcing truckers to idle their vehicles as they line up for hours to fill up at fuel stations. Truckers said Woqod has failed to deliver the supplies ordered by diesel...
likely to be shelved due to spiralling construction costs. Authorities recently delayed a tender for bids on the project for a third time. Apart from rising engineering, steel and materials costs, analysts said the project’s location in the country’s far south away from the crude production sites puts it at a cost disadvantage. The...
least 14 billion baht this year from subsidising domestic fuel prices on the order of the government. (US$1=33 baht). Crude oil prices have risen more than 40% since the start of 2008. In the first four month of this year, PTT said it incurred a loss of 0.32 baht on each litre of diesel it...
farmers, truck drivers and bus owners protesting against rising fuel costs. Bangkok has been the scene of frequent protests that have added to the city’s notorious traffic jams. The protests are taking place despite government promises to continue subsidising fuel against the advice of oil companies which are chalking up huge losses. The government has...
to focus on its oil storage and shipyard business, and scale down its trading and supply activities. With crude oil at more than $140 a barrel and still rising, the company said the trading business is capital intensive and increasingly exposed to market risks and market volatility. The company said it “will consider suitable opportunities...
issued another gloomy prediction, with gasoline hitting US$7 per gallon as impoverished Americans withdraw 10 million vehicles off the roads by 2012. The report forecasts that continued growing global demand combined with ongoing supply challenges will see oil prices continue to rise and hit $200 per barrel in 2010. This will translate into further pain...
supply shortage that has idled the bulk of its public and private vehicles the past few weeks. Officials said that as much as 80% of Lahore’s urban transportation system and half its inter-city connections have shut down due to the scarcity of gasoline and diesel supplies. They warn that the province’s transportation system will completely...
for industrial and commercial customers by an average 26% effective 1 July. However, Tenaga said the increases were still not enough to fully recoup rising feedstock costs for fuel, gas and coal. In response to rising energy costs on the world markets, the government has sharply raised domestic gasoline, diesel, gas and power prices and...
year as the rising cost of jet fuel is making many routes commercially unviable. The company plans start to grounding its older, least fuel-efficient Boeing 747s, 767s and 737s aircraft. Jet fuel have soared well above US$170 a barrel and does not look like slowing down any time soon. With more analysts forecasting higher oil...
2005 and 2030, driven by robust economic growth and expanding populations in the world’s developing countries, said the US Energy Information Administration (EIA). In its latest International Energy Outlook 2008 report, the EIA said it based its prediction on 2007 oil prices, which are nearly double the 2003 prices in real terms. The report does...
Environmental Opportunities All-Share Index’, which is made up of over 450 constituents covering the alternative energy, water and waste management companies. The constituents are taken from the ‘FTSE Global Equity Index Series’ and are included in the index if a minimum of 20% of their revenue comes from environmental markets or technologies, which are of...
due to the damage to its hydropower dams caused by the massive earthquake last month in Sichuan province. Officals said the 8 magnitude earthquake, which killed more than 80,000 people, damaged dozens of dams and cut coal production. The timing could not be worse as China is already struggling to cope with massive power supply...
Petroleum and PetroChina Company have signed a letter of intent to undertake a joint feasibility study for a refining and petrochemical project in China. PetroChina will have a 51% shareholding, QPI 24.5% and Shell 24.5% in the project. The agreement was signed in Doha by Abdulla Bin Hamad Al Attiyah, Qatar’s Deputy Prime Minister, Jiang...
to acquire a Hong Kong corporation specialising in R&D and procurement. Technology currently exists for analysing cost and performance of solar systems, developing parabolic trough technology for solar electricity generation, and developing advanced technologies such as concentrating photovoltaics (solar panels). The Holy Grail for solar panel manufacturers is to engineer and commercially manufacture solar panels...
been selected to provide professional services and procurement of critical equipment for a major grassroots expansion of Hyundai Oilbank’s refinery complex in Daesan, South Korea. Shaw, along with consortium partner Hyundai Engineering Co Ltd, will provide front-end engineering design for the integration of 15 refinery process units, including a 52,000- barrel per day residue fluidised...