Asia-Pacific

Shell exits China power market businesses, renews focus on natural gas

Shell has exited China's power markets as part of CEO Wael Sawan's drive to focus on more profitable operations, including its natural gas and oil businesses.

IEEFA: Tidal wave of new LNG supply to flood market amid demand uncertainty

Sluggish demand growth for liquefied natural gas (LNG), combined with a record increase in global export capacity through 2028, will likely thrust markets into an extended period of oversupply, according to the latest Global LNG Outlook from the Institute for Energy Economics and Financial Analysis (IEEFA).

bp signs long-term LNG agreement with Korea Gas Corp

bp has entered into a long term LNG sale and purchase agreement with South Korea's state run Korea Gas Corp.

PetroChina profit boosted by stronger gas sales and fuel demand

China's top energy producer PetroChina posted a 4.7% rise in first-quarter net income helped by growth in natural gas and a recovery in fuel demand.

Asia spot LNG prices fall for first time in over two months

Asian spot LNG prices dropped slightly for the first time in more than two months this week over expectations of weak demand, amid easing concerns around supply due to tensions in the Middle East.

Equinor to expand LNG trading, eyes deals in Europe, Asia, senior exec says

Norwegian energy group Equinor plans to expand its LNG trading business and is in talks with a number of potential buyers in Europe and Southeast Asia.

Rising spot LNG prices starting to bite some Asian buyers

There are early signs that the rise in the spot price for LNG for delivery to Asia to a three-month high is starting to crimp demand from price-sensitive buyers such as India.

Steep discounts, new vessels spur demand for LNG to power ships

Demand for LNG to power ships will rise this year on attractive prices, while more dual-fuel vessels join the global fleet, industry executives said.

Mitsui to join with ADNOC and others in LNG project in UAE

Japan's Mitsui & Co plans to participate in a $7-B LNG project in the United Arab Emirates, teaming up with Abu Dhabi National Oil Company and others.

Hong Kong's Wah Kwong orders more LNG carriers banking on growing trade

Hong Kong-based shipping company Wah Kwong is finalizing a deal later this month to double the number of LNG carriers that it has ordered to four, as it eyes growing global trade in the superchilled fuel.

TotalEnergies signs an agreement to acquire the remaining 50% of SapuraOMV

TotalEnergies has signed an agreement with Sapura Upstream Assets Sdn Bhd to acquire its 50% interest in Malaysian independent gas producer and SapuraOMV for a consideration of $530 MM, subject to closing adjustments.

PetroChina lifts first spot LNG cargo from PNG national oil firm

PetroChina International has lifted a spot cargo of LNG from the PNG LNG project sold by Papua New Guinea's national oil company.

Russia's Q1 LPG exports to China by rail up 51%, calculations show

Russia's exports of LPG to China by rail, the main supply route, rose 51% in the first quarter from a year earlier to 72,300 metric tons.

Asia spot LNG at fresh three-month high on supply concerns

Asian spot LNG prices rose this week to a new three-month high due to supply concerns amid tensions in the Middle East and a drop in feedgas deliveries to two LNG terminals in the U.S.

The science behind amine column corrosion and remedial solutions

4/16/2024

This article examines how and why corrosion takes place within amine columns and the corrosion mitigation strategies available.

Global Projects Data

4/16/2024

A quick look at total project numbers by region.

Uzbekistan aims to achieve a chemical hub status with the help of Chinese polymer tech

Uzbekistan is embarking on a significant economic transformation with the help of Chinese technology, aiming to capitalize on its natural gas reserves by producing value-added products rather than solely relying on energy consumption.

Japanese consortium to invest $370 MM in I Squared Capital's India natural gas platform

A Japanese consortium will invest $370 MM to acquire a minority stake in a platform that invests in companies developing city gas distribution networks in India.

Asia spot LNG at 3-month peak on steady demand, supply disruption

Asian spot LNG prices edged up, reaching the highest levels in three months, as they remained supported by steady demand and supply disruption concerns.

Chevron hands Myanmar gas field stake to junta, Thailand's PTTEP

U.S. energy company Chevron has quit the Yadana natural gas field in Myanmar, a spokesperson said, more than two years after it condemned violence and human rights abuses there and announced it would leave.

TotalEnergies: Papua LNG project requires 'more work' to reach final investment decision

French oil and gas giant TotalEnergies said a planned new LNG project in Papua New Guinea would require 'more work' before a final investment decision could be reached.

Shell sees significantly lower Q1 LNG trading results

Shell said it expects significantly lower results from its LNG trading business in the first quarter of 2024 compared with the previous three months.

Asia spot LNG holds at 6-week top amid sustained demand

Asian spot LNG was unchanged this week, keeping at a six-week high over $9 per MMBtu for a third consecutive week, as demand from buyers continued shoring up prices.

Shell, Aramco in final stage of Pavilion Energy talks

Shell and Saudi Aramco, which are competing to buy the assets of Temasek-owned LNG trading firm Pavilion Energy, are now locked in price negotiations after completing the due diligence process,.

Japan's Mitsui OSK starts FSRU operations for Indonesian gas-fired power plant

Japan's Mitsui O.S.K. Lines Ltd. has started commercial operations of its FSRU to supply LNG to a power plant in West Java, Indonesia.

Aramco awards $7.7-B contracts to add 1.5 Bscfd of raw gas to Fadhili Gas Plant

Aramco awarded engineering, procurement and construction contracts worth $7.7 B for a major expansion of its Fadhili Gas Plant in the Eastern Province of Saudi Arabia.

Japan's Mitsubishi invests in EIG's LNG company MidOcean Energy

Japanese trading house Mitsubishi has agreed to invest in MidOcean Energy, an LNG company owned by U.S. investment firm EIG, MidOcean said without giving details of the deal.

China power firm GCL revives LNG ambition after solar spin-off

Privately-run Chinese power company GCL Holdings is rebuilding a natural gas business after offloading hundreds of solar installations to set up gas import capacity and a trading operation.

QatarEnergy to charter 19 new LNG vessels expanding fleet further

QatarEnergy CEO Saad Al Kaabi announced that the company has finalized a number of charter contracts with several Asian ship owners to bolster its shipping fleet by 19 LNG vessels ahead of a massive expansion in LNG output.

Credit Agricole says it will not fund two major LNG projects

Credit Agricole said that it would not provide financing to two major LNG projects, citing commitments to refrain from new fossil fuel developments.