IT RIVALS iron ore as the world’s second-biggest traded commodity – after oil – yet the liquefied natural gas trade remains opaque and illiquid. This is about to change, irking the supermajors that have monopolised the long-term point-to-point business for decades. LNG is coming of age as a commodity.
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.
ONE of the biggest barriers to clean energy’s advance has been finding funding to bolster its growth. But as financing has become cheaper and easier, global investment in clean energy has risen significantly, from $60.2 billion in 2004 to $310 billion in 2014 – a whopping 415% jump.
THE plunge in oil prices has been portrayed as a severe blow to clean energy deployment, particularly renewables. But the effects will be modest in major electricity markets – where the bulk of the clean energy transformation has taken place so far – and where renewables mostly compete with gas and coal.
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.
AUSTRALIA is one of the world’s top 20 polluting nations, emitting more carbon per person than any other developed nation. And without a comprehensive emissions mitigation plan, Australia’s emissions are projected to increase by 24% between 2000 and 2020 to 686 million tonnes of carbon dioxide (CO2) equivalent.
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.
Sun comes into its own as power generation sector looks for viable alternatives to fossil fuels. Given technological advances, rapidly changing economics, as well as potential new applications, solar looks increasingly competitive in the future energy landscape.
THE future of energy is all about efficiency. That is efficiency in transport, buildings, industry, as well as commercial and residential sectors. Taken together, the potential to cut energy demand growth over the coming decades is tremendous.
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.
With an aggressive foreign strategy, Thailand’s state oil firm wants to put a string of setbacks behind it.
Chinese national oil companies (NOCs) are getting more sophisticated both at home and overseas.
Countries such as Nigeria and Angola are catching the eye of investors from across the globe, including Asia.
Subsidies and weak policy mean Asia’s rising economies will dominate demand growth for transport fuels.
CHINA now has 100 million cars. It is not a huge number compared with the country’s population of 1.3 billion people. But as average incomes rise, so do aspirations. Many more Chinese want the freedom and status offered by their own vehicle.
China’s escalating dependence on oil imports has spurred the country to pursue an ambitious strategic stock-piling programme thatis expected to be a factor of the global oil market throughout this decade.
A solution to the impasse over the Greater Sunrise gas development is at hand, but requires compromise and transparency from Timor Leste and Woodside.