Asia/Pacific

Venezuela's Maduro Seeks to Renew Beijing Ties Amid China-West Tensions

Venezuela's President Nicolas Maduro arrived in China on Friday, his first visit in five years, to renew engagement between the two countries as China's ties sour with the West and the South American country seeks fresh financing.

Japan's Inpex Interested in Buying US LNG Linked to Henry Hub Prices, CEO Says

Inpex, Japan's top oil and gas producer, is interested in buying LNG from the United States linked to the Henry Hub prices, CEO Takayuki Ueda told Reuters on Wednesday.

India Seeks More Natural Gas Amid Emergency Measures to End Blackouts

India is seeking additional volumes of natural gas and has asked utilities to expedite the completion of power plant maintenance as part of emergency steps to stop electricity outages, according to Reuters.

Vitol CEO: Bunker Fuel Market to Convert to LNG in Next 10 Years

The global bunker fuel market is expected to convert substantially to LNG over the next 10 years, said Russell Hardy, chief executive of the world's largest independent oil trader, Vitol.

PTT: Thailand Regasification Capacity to Nearly Double by 2030

Thailand's annual gas regasification capacity will nearly double by the end of the decade as LNG imports are set to rise to replace declining domestic production, a senior executive at energy company PTT said on Tuesday.

Black & Veatch Expects Floating LNG Capacity to More Than Quadruple by 2030

U.S.-based engineering and construction group Black & Veatch (B&V) said on Monday it expects global floating LNG capacity to increase more than four-fold to 46.4 million metric tons per annum (MTPA) by 2030, as they have become competitive with fixed terminals for smaller fields.

Japan's Mitsui, Others to Jointly Study Hydrogen, Ammonia Supply Chain in Osaka

Japan's Mitsui & Co., Mitsui Chemicals, IHI Corp. and Kansai Electric Power Co. will conduct a joint study for establishing a hydrogen and ammonia supply chain in the Osaka coastal industrial zone, the companies said.

Gazprom Drives Over Half of China's Gas Import Surge, CEO Says

Alexei Miller, the chief executive of Russian gas giant Gazprom, said on Thursday that the company accounts for more than half the increase in China's gas imports this year, without providing figures.

Japan's Eneos, Osaka Gas Study Building Large E-Methane Facility in Osaka

Japan's top refiner Eneos and city gas supplier Osaka Gas said on Tuesday they have begun a joint study of construction of an e-methane facility with the capacity to produce 60 million cubic meters of the fuel per year.

Global News August 2023

Latest industry developments from around the world!

Germany's August Global Investment Plans to Build Hydrogen Plant in Indonesia

Germany's Augustus Global Investment plans to invest $500 million in Indonesia's Aceh province to build a green hydrogen plant next year, its CEO Fadi Krikor said on Monday.

Gazprom's First LNG Cargo Via Arctic Destined for China's Jingtang

An LNG cargo from Russia's Gazprom being sent via the Northern Sea Route (NSR) for the first time is destined for the Chinese port of Jingtang, Refinitiv ship tracking data shows.

Asian Buyers May Seek U.S. LNG If Australia Worker Disputes Worsen, Analysts Say

Major Asian buyers of LNG could seek U.S. cargoes in the coming weeks if worker-related disputes at key LNG facilities in Australia escalate, analysts said, as electricity demand continues surge due to warm weather.

China’s LNG Buyers Expand Trading After Adding More US, Qatari Contracts

China's LNG gas importers are starting up or expanding trading desks in London and Singapore to better manage their growing and diversified supply portfolios in an increasingly volatile global market.

Abu Dhabi's ADNOC Gas Signs 5-Year LNG Supply Deal with Japex

The deal is valued at between $450 million to $550 million, ADNOC Gas said, without providing LNG volumes or timing for the shipments to start.

Pavilion Energy, CNOOC Complete First Bunker Delivery to LNG-Powered VLCC

Singapore's Pavilion Energy and China's CNOOC Gas and Power Group completed their first LNG ship-to-ship bunker operation for a very large crude carrier (VLCC) at China's Guangzhou port, the companies said on Thursday.

Analysis: Surging U.S. Crude Oil Exports Disrupt European, Asian Prices

Surging U.S. crude exports in 2023 are pushing down oil prices in Europe and Asia, proving a key source of supply as producers cut output and sanctions on Russian crude disrupt trade flows.

Senate Backs Amendment Banning US Strategic Oil Reserve Sales to China

The U.S. Senate overwhelmingly passed an amendment to an annual defense bill on Thursday that would ban exports to China of oil from the Strategic Petroleum Reserve.

Wary of 2022 Crisis, Asian Buyers to Build Strategic Gas Reserves

Governments across Asia are formulating strategic natural gas reserve policies, building new terminals and storage tanks as buffers against supply disruptions following last year's energy crisis that sent global prices soaring to a record high.

Vietnam Approves $11.4 Billion Plan to Expand Fuel Storage Capacity by 2030

The investment would raise the country's crude oil and refined fuel storage capacity to 75 to 80 days of net imports, according to the plan signed by Deputy Prime Minister Tran Hong Ha on Tuesday.

Global News July 2023

Latest industry developments from around the world!

LNG Canada Project Nears Completion as Fluor Wraps Up Module Fabrication

(P&GJ) — With the arrival of the last module by ship from its fabrication yard in Zhuhai, China, Fluor Corp. announced that it has completed the module fabrication program on the LNG Canada project in Kitimat, British Columbia, Canada. The project will have an initial capacity to produce 14 million tons of LNG per year.

Global Construction Update: LNG Markets, Resurgent China Kindle Pipeline Projects

(PGJ) — Global midstream markets continue to face near-term headwinds and economic uncertainties, but Europe’s rapid transition from Russian energy and projected higher demand in Asia continue to drive midstream expansion in those regions and others that supply them.

World’s Top LNG Players Push for More, But Greener, Gas Investments

Current investments in gas infrastructure are falling short of what is needed, officials at an industry conference in Japan said on Wednesday, citing the role they say the fuel has to play in both global energy security and the transition to net zero.

Japan to Establish LNG Reserves This Year; IEA May Play Bigger Role

Japan, the world's top LNG buyer along with China, is promoting gas as a transition fuel before its economy reaches zero-neutrality in 2050. Japan also wants to be an LNG trading hub for Asia, especially for nations switching from coal to gas.

Riyadh, Tokyo to Cooperate on Energy Security, Hydrogen and Ammonia

Saudi Arabia said on Sunday it remains committed to securing oil supplies for Japan and will continue cooperating with Tokyo on clean hydrogen, ammonia, and recycled carbon fuels.

Indian Oil Signs Long Term LNG Import Deals with ADNOC LNG, TotalEnergies

Indian Oil Corp., the country's top refiner, has signed long-term LNG import deals with United Arab Emirates' s Abu Dhabi Gas Liquefaction Co. Ltd. (ADNOC LNG) and France's TotalEnergies.

Brent Oil Hovers Above $81 After Supply Disruptions

Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria.

Cheniere Shunning Panama Canal for Longer LNG Routes to Asia

Top U.S. LNG exporter Cheniere Energy is shunning the Panama Canal to transport LNG to Asia because the market is not supporting use of the waterway, said Chief Operating Officer Corey Grindal on Monday.

Pipeline Construction Stalls Startup of Indian LNG Terminal

The terminal was completed in March, but its commissioning has been delayed as a 40-km (25-mile) pipeline link to an existing network meant for consumer sales is not yet ready.