Asia-Pacific

Asian spot LNG prices slip to 2-year low on tepid demand

Asian spot LNG prices slipped to their lowest level in two years on weak demand and high inventories, while European LNG prices also fell below the $10 mark amid healthy stock build and limited need for additional supply.

Lower gas prices to push up India's FY24 gas demand by 7%

Indian gas utility GAIL (India) Ltd sees local gas demand growing by 6%-7% in the fiscal year to March, driven by lower prices and the resumption of supply under a deal with the former unit of Russia's Gazprom.

Chevron, Exxon seek state backing for Australia carbon capture, hydrogen projects

Chevron Corp and Exxon Mobil Corp, the two largest U.S. fossil fuel companies, are seeking Australia's backing for carbon capture and storage and hydrogen projects as they look to increase investment in a bid to slash intensity of carbon emissions.

Japan embraces G7's gas support but companies may face long-term problems

Japan's energy companies were quick to embrace the G7's support for natural gas investment in their statement last month but analysts caution that relying on the fossil fuel may open the companies up to long-term problems.

Philippines' First Gen seeks one LNG cargo for FSRU commissioning in Sept

Philippine power producer First Gen Corp will issue a tender probably in the next two weeks for one LNG cargo for delivery in September.

Vietnam bets big on LNG, South China Sea gas fields amid supply, security risks

Vietnam's plan to quadruple by 2030 its gas processing capacity, turning it into its first source of energy, marks a big bet on imported LNG and its reserves in the South China Sea, despite supply and geopolitical risks.

Cheniere strikes LNG supply deal with Korea Southern Power

Cheniere Energy Inc said it has entered a long-term deal to supply LNG to Korea Southern Power Co Ltd.

Executives say Australia gas moves may hit long-term energy investment

The Australian government's repeated intervention in domestic gas prices could have long-term repercussions on investments in its wider energy sector, industry executives warned.

Bangladesh rocked by power cuts as cyclone hits gas supply

Bangladesh faced its worst power cuts in over seven months as a deadly storm forced the closure of both its floating LNG terminals, less than a month after a scorching heatwave caused widespread outages in the south Asian country.

Kazakhstan, Russia map out gas pipeline to China

Kazakhstan and Russia have established the route for a future gas pipeline to support shipments between the two countries and to China, Kazakhstan's energy minister said.

Woodside open to talks with Chinese firms for Scarborough gas project

Woodside Energy Group said it is open to talks with Chinese firms to invest in its $12-B Scarborough liquefied natural gas project in Australia.

Shell halts production at Prelude floating LNG facility

Shell has suspended production at its Prelude floating LNG facility off Western Australia due to problems with its processes and is working through steps to restart production at the world's largest floating LNG platform.

Asian spot LNG prices fall for third straight week to near 2-yr low

Asian spot LNG prices fell for the third straight week to the lowest level in nearly two years due to weak demand from top regional importers and as inventories remained high.

UAE's ADNOC says 'business as usual' in Asia

Abu Dhabi National Oil Company sees no dip in demand from Asian customers as cheap Russian oil flows into the continent on the back of Western sanctions on Moscow, a senior executive said.

GAIL plans $4.9-B ethane cracker in West India

GAIL Ltd, the country's top gas supplier, plans to build a $4.89-B ethane cracker near its LNG import plant in Western India as it seeks to meet an expected surge in demand.

Australia to invest $1.4 B to scale up renewable hydrogen industry

Australia will invest A$2 B to scale up development of its renewable hydrogen industry, the government announced in its annual budget, as it looks to accelerate clean energy projects in the country.

Indian court upholds tribunal ruling favoring Reliance in gas sale case

Delhi High Court has upheld the ruling of an arbitration panel favoring Reliance Industries and its foreign partners in a dispute over gas migration from fields operated by state-owned Oil and Natural Gas Corp Ltd , a court order shows.

Osaka Gas sees profit jump in FY23/24 after Freeport LNG restarts

Japan's Osaka Gas Co predicted that its net profit will double to ¥116 B in the current fiscal year to March 2024 after the restart of exports from the U.S. liquefied natural gas company Freeport LNG.

PetroVietnam Gas gets country's first LNG import-export approval

PetroVietnam Gas said it had received a certificate from local authorities to become the country's first company eligible to import and export LNG.

Asian spot LNG prices hit 23-month low amid weak restocking demand

Asian spot LNG prices hit a 23-month low on mild weather and weak restocking demand in China, Japan and Korea, while Europe enjoys 60% full inventories ahead of summer.

Global gas markets rebalancing and remains tight in 2023

Global gas markets are gradually rebalancing but are expected to remain tight in 2023 amid lower Russian pipeline gas deliveries to Europe.

India's top gas importer sees 'huge jump' in demand as prices ease

India's top gas importer Petronet LNG expects a 'huge jump' in local gas demand for at least six months due to a softening of global prices of liquefied natural gas.

Timor Gap CEO expects Great Sunrise gas project decision by November

The head of East Timor's national oil company said he expects a decision by November on whether to pipe natural gas from its offshore Greater Sunrise project to the Southeast Asia island or to Australia for liquefaction and export.

Aramco in talks with Sinopec and TotalEnergies for $10-B gas deal

Saudi Arabian oil giant Aramco is in talks with refining giant Sinopec Corp and French oil major TotalEnergies for a gas deal of about $10 B.

Vietnam seeks first LNG cargo to commission import terminal

PetroVietnam Gas has issued a tender seeking to buy Vietnam's first cargo of LNG marking a milestone on the Southeast Asian nation's route to becoming a key importer.

MHI to collaborate with Saipem on CO2 capture technologies

Mitsubishi Heavy Industries, Ltd. has concluded a General License Agreement with Saipem S.p.A. under which MHI will provide Saipem with its proprietary “KM CDR Process” and “Advanced KM CDR Process” technologies for use in CO2 capture plants.

Japan's Tokyo Gas reports record 2022/23 profit on LNG price boost

Tokyo Gas reported its highest ever yearly net profit for the 2022/23 fiscal year amid record LNG prices but warned that next year's profit may drop because of projected lower city gas and electricity sales.

Woodside Energy ties up with Keppel Data Centres for liquid hydrogen supply

Australia's Woodside Energy Ltd signed an agreement with Keppel Corporation for the potential supply of liquid hydrogen to its data centers in Singapore, bolstering the city-state's renewable energy transition efforts.

India's Tata Steel begins hydrogen gas injection trial in blast furnace

Indian steel maker Tata Steel Ltd said it initiated trial for injecting hydrogen gas at its blast furnace in the company's flagship plant, in a move to reduce metallurgical coke usage and cut carbon emissions.

Woodside's stalled Browse LNG project still 'very attractive'

Woodside Energy Group Ltd's CEO played down concerns over the status of its long-delayed Browse LNG project after the company reported a decline in first-quarter sales revenue relative to the December quarter.