Liquefied natural gas exporters will be excited by the prospects of state-backed Korea Gas returning to the buyers’ table following moves by newly elected South Korean President Moon Jae-in to shift the country’s power-generation mix away from coal to natural gas to cut pollution.
New Indonesian energy price regulations will boost coal use but could offer gas an opportunity to support solar in the country’s east.
The Indonesian government will introduce new regulations governing the downstream gas sector next month that will help boost demand for gas by limiting distribution fees to make pricing more competitive, Wiratmaja Puja, the director general of oil and gas at the Ministry of Energy and Mineral Resources, told delegates at the IndoGAS conference on Wednesday.
The government of East Timor and international oil companies, including ConocoPhillips and Woodside Energy, are responsible for failing to progress the development of the Greater Sunrise gas fields, in the Timor Sea.
Global LNG players are pessimistic in the face of a glutted global LNG market and oil prices that are steadfastly refusing to rise.
For years, the world’s biggest liquefied natural gas sellers boasted at industry gatherings about the endless potential for demand growth in Asia. Until recently, LNG’s relatively high price and the commodity’s inflexible trade have been its undoing.
JAKARTA’S INSISTENCE ON an onshore liquefaction plant rather than a floating facility for its Masela development means first gas is likely to be delayed by five years, to 2029, analysts said this week.
INDONESIA’S PRESIDENT JOKO Widodo has vetoed the 7.5 mtpa Abadi FLNG scheme proposed by Inpex and Shell for their
Masela Block in the Arafura Sea. The political resistance to FLNG could see Shell, a pioneer in the technology, exit the project.
INDONESIA is planning to introduce a gas aggregator scheme as part of wider plans to revise its oil and gas law, but foreign players fear it could significantly alter the value of their upstream investments in the Southeast Asian country.
AT LEAST one of the major oil companies, perhaps Total or Statoil, will turn its back on fossil fuels within the next three years, following in the footsteps of European utility E.ON, a former industry advisor predicts.
INTERNATIONAL oil companies claim gas and renewables are ideal bedfellows, while many environmentalists believe the rise of gas, particularly shale gas, will delay the world’s shift away from fossil fuels.
International oil companies (IOCs) are betting big on gas, particularly on capital-intensive liquefied natural gas (LNG) schemes that they hope will find buyers in Asia, where energy demand is soaring. But the rapid rise of clean-technology energy systems and fuels could snatch away potential new markets, especially in developing economies.
China, the world’s fastest-growing liquefied natural gas (LNG) market, is taking small steps towards allowing market-based gas pricing. But unless pricing across the entire energy system is liberalised, the move will likely accelerate fuel switching to cheaper coal.
IT IS no secret that Asia’s energy demand will increase significantly over the coming decades. As the region’s population and economies grow, primary energy demand is set to rise by an estimated 37% by 2025. Yet it is not clear how this demand will be met or if Asia can harmonise its energy connectivity to build a 21st century energy system that will power its drive to achieve its economic potential.
As falling production and rising energy imports start to take their toll on the wider economy, it is clear Indonesia needs to reshape its oil and gas regime to attract much-needed upstream investment. But is the incoming president up to the challenge?
INDONESIA is considering importing US liquefied natural gas (LNG) and is weighing up overseas investment opportunities as it tries to plug the gap between falling domestic output and rising demand.
Australia’s Woodside Petroleum is poised for a shopping trolley dash that could see it spend up to A$5 billion ($4.4 billion) on upstream oil and LNG projects as part of an ambitious expansion drive.
India is poised to implement long- awaited gas price reforms in an effort to increase investment in upstream production. But the Reliance-BP joint venture developing the potentially prolific and contentious Krishna-Godavari D6 (KG-d6) deep-water block will not benefit just yet.
Malaysian national oil company Petronas has threatened to delay its planned Pacific North West liquefied natural gas (PNW LNG) export project in Canada by up to 15 years unless a favourable regulatory and fiscal deal is in place by the end of October.
Construction is set to begin on a new storage tank and more regasification facilities at Singapore’s liquefied natural gas (LNG) terminal later this year. The rapidly expanding terminal will see its send-out capacity almost double from 6 million to 11 million tonnes per year (t/y) by 2018, as the city-state seeks to establish itself as Asia’s leading LNG trading centre.
THE appointment of ex-BG Group chief, Chris Finlayson as chairman of troubled Papua New Guinea explorer InterOil grabbed international headlines. Yet it was the low-key arrival of ex-BP and Woodside Petroleum executive Michael Hession a year ago that sparked InterOil’s transformation.
Without a price on carbon, gas is generally seen as an expensive alternative to cheap coal. But the increasingly fungible nature of liquefied natural gas (LNG) and potential market innovations could see gas overtake coal as Asia’s fuel of choice.
IF THE Kremlin can get its act together, then Russia’s fledgling liquefied natural gas (LNG) business could steal a big chunk of expanding Asian demand from emerging sup- pliers in North America and East Africa.
RUSSIA’S shift east has long been in the making and its increasing engagement with China on a number of huge deals could see energy trade between the two neighboring countries quadruple by 2025.
The Indian government’s surprise decision to delay the increase in natural gas prices until after the general elections in mid-May will not only cost upstream players billions of dollars in lost revenues, but it also highlights the political risks faced by investors.
ASIAN buyers’ growing hesitation about committing to new long- term liquefied natural gas (LNG) export projects has heightened supply-side risks, while putting a squeeze on potential supplies post-2020.
Chinese companies are rediscovering their appetite for liquefied natural gas (LNG) as import capacity surges. But it’s not just the existing buyers that are upping their game, as new non-national oil companies emerge as potential contenders in the world’s fastest-growing major LNG market.
ASIDE from some outrageously bullish claims that South Australian shale oil could rival Saudi Arabian conventional oil production, there has been little notable activity in the Asia Pacific’s unconventional oil sector. But the region’s potential remains a wild card for global oil markets.
It might take a decade, but industry insiders believe Singapore is positioning itself to take the lead in the region’s gas trade. But will the country be a physical trading location or price reference point?
Reforms set to boost state-run PetroChina’s finances and could help the country seal a gas supply deal with Gazprom
China is developing liquefied natural gas (LNG) as a transport fuel, particularly for trucking and shipping.
To meet ambitious export goals, the country must tackle cost inflation. Floating LNG may help.
Supplies from the US and East Africa will have less of an impact on Asian import costs than thought.
Santos has stormed into the shale sector in Australia’s Northern Territory.
China has become increasingly reliant on imported fuels, but will a commitment to coal-to-gas be the solution to its rising energy needs.
Papua New Guinea is now firmly on the industry’s radar – the island nation is emerging as an LNG producer, it has both substantial reserves and upside potential.
Singapore’s new LNG hub is poised to shake-up Asia’s gas trading dynamics, offering the energy-hungry region greater volumes, at cheaper prices and will make the city state a key player in the global market.
Faced with uncertain income from its newly acquired US shale gas assets, due to low gas prices, BHP Billiton is hurriedly refocusing efforts on shale liquids plays, which it hopes will prove more profitable.