Eurobench.com

[verwijderd] 13 september 2011 11:09

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Postzak
Inderdaad een goede analyse. Had dit al een tijdje in mijn achterhoofd, en vond dit een aardig excuus om vopak van de hand te doen. Die krijgen dit toch uiteindelijk in lagere verhuurtarieven voor opslag terug te zien lijkt mij.

de bos

voda 13 januari 2012 16:07

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Miljardeninvestering lng-project Australië
Gepubliceerd op 13 jan 2012 om 09:24 | Views: 968

TOKIO (AFN) - Het Japanse olie- en gasconcern Inpex investeert samen met de Franse oliemaatschappij Total 34 miljard dollar (26 miljard euro) in een groot project voor vloeibaar gemaakt aardgas (lng) in het westen van Australië. Dat maakten de bedrijven vrijdag bekend.

De bedrijven beginnen later dit jaar met de aanleg van een boorconstructie in zee, aldus Total. In 2016 moet de productie van het Ichthys-gasveld op gang komen. Het vloeibaar gemaakte gas zal via een pijpleiding van bijna 900 kilometer lang aan land worden gebracht om verder te worden verwerkt in een fabriek in Darwin.

Inpex heeft een belang van 72,8 procent in het project en Total 24 procent. De Japanse gasbedrijven Tokyo Gas, Osaka Gas en Toho Gas bezitten de rest. Het merendeel van het geproduceerde gas zal naar Japan worden getransporteerd.

Milieu-eisen

De kosten voor Total en Inpex zouden aanvankelijk uitkomen op circa 20 miljard dollar, maar liepen op als gevolg van strenge milieu-eisen. Ondanks de hoge investeringskosten zien veel energiebedrijven lng-projectenals zeer lonend. De vraag naar vloeibaar gemaakt gas is hoog. Total en Inpex lieten al weten de gehele geplande jaarproductie van 8,4 miljoen ton voor de komende 15 jaar te hebben verkocht.

Japan is momenteel de grootste lng-importeur ter wereld. Het land bezit zelf weinig grondstoffen. Na de kernramp in Fukushima, in maart vorig jaar, werd een belangrijk deel van alle kerncentrales in het land gesloten. Daardoor werd Japan voor zijn energiebehoefte nog meer aangewezen op import. Kerncentrales voorzagen voor de ramp in 30 procent van de Japanse energiebehoefte.

ffff 13 januari 2012 16:41

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www.iex.nl/Aandeel-Koers/60185174/Exm...

Tja, als je goed kan timen heb je er 50 procent bij...op 4 maanden tijd. Het is mijn insteek in LNG.

Overigens Euronav , dat andere onderdeel van de miljardairsfamilie Saverys heeft er een ongelooflijke reeks van tien dagen achtereen hogere koersen opzitten. Dat zijn zo van die bijverschijnselen van de Iraanse bedreigingen. Maar dat betreft dus olie en hier gaat het over gas.

Nog een mooie: De Verenige Arabische Emiraten gaan een pijpleiding bouwen dwars door de VAE en zo omzeilen ze volledig de straat van Hormuz en zijn ze van het gedreig van de Iraniërs af. Eigenlijk dezelfde strategie die Medvedew en Putin doen en deden met die lastige Oekraïners. Bouw gewoon een leiding eromheen en ze hebben niks meer te makken.

Peter

[verwijderd] 13 januari 2012 20:30

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Golar (NYSE: GLNG) heeft een tamelijk briljant koersverloop achter de rug in 2011:

finance.yahoo.com/q/ta?s=GLNG+Basic+T...

voda 27 januari 2012 16:11

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Pakistan government plans to import LNG from Qatar

The News reported that as the Mashall LNG project failed to deliver, the government now plans to import 500 million cubic feet LNG directly from Qatar which has invited criticism from the industry for it being against the norms of transparency.

Industry sources said that this was against the norms of transparency, since in order to ensure that the country got LNG at a competitive rate all countries should be allowed to participate in a bidding process. The fuel would directly be imported from Qatar on the basis of issuing a sovereign guarantee. The terms of this deal with Qatar have yet to be disclosed.

The Oil and gas Regulatory Authority has recently allocated capacity allocations to three companies for LNG import into the country. These include Pakistan Gas Port Limited, Engro and Global Holdings Limited.

The sources said that all the 3 projects are being developed by the private sector on fast track basis and are expected to contribute approximately 1.5 billion cubic feet per day by 2013. The Ministry of Petroleum and Natural Resources is actively supporting these projects since LNG is the need of the hour. After the failure of the private companies to import LNG, the government has sprung into action in view of the worsening energy crisis.

OGRA had earlier finalized three companies, including Global Energy International, Gas Port and Engro for LNG import, the sources said, adding that the Global Energy had given the undertaking to the authority that it would import LNG by the Q2 of the current year and Engro and Progas by Q2 of 2013. However, the GE had started seeking more relaxations, which are against the rules of business earlier set by the regulatory authority.

The sources said that the GE had asked for the sovereign guarantees, waiver of the third party access rules and more time till November. OGRA extended the time on the directives of the ministry but the company seems not inclined to import LNG which is why the minister air dashed to Qatar where he gave an undertaking that the Pakistan government would provide sovereign guarantees to Qatar against the import of 500 million cubic feet per day LNG.

They said that the LNG import will not negate the 2011 LNG Policy under which the government is bound not to provide any sovereign guarantee to the private company importing LNG into Pakistan. Around 800 million cubic feet per day gas will be injected in the system by June this year.

(Sourced from www.thenews.com.pk)

voda 26 maart 2012 16:41

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Alaska plans to build USD 40 billion gas pipeline (= $ 40 miljard !!)

It is reported that the officials from BP, ExxonMobil and ConocoPhillips are currently discussing a USD 40 billion project to carry liquefied natural gas to Asian customers from Alaska.

The project might need the investment of USD 40 to USD 50 billion and it might take 10 years for construction.

It is said that the three oil companies have been sought a resolution of a lease dispute at Point Thomson, the largest oil and gas field at Alaska's North Slope.

In the background, Alaska's North Slope owns reserves of 35 trillion cubic feet of gas, accounting for one eighth of the US's total reserves

(Sourced from www.yieh.com)

voda 11 mei 2012 16:20

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Woodside Petroleum starts production at Pluto LNG Project

Woodside Petroleum Limited, the operator of LNG production project in Australia Pluto LNG Project, made announcement on April 30th 2012 that it has started LNG production at the project, which is scheduled to be sold to Kansai Electric Power Company and Tokyo Gas Co Limited, based on long term sale and purchase agreements. The first LNG cargo is expected to be carried by LNG tanker Woodside Donaldson.

Pluto LNG Project has been owned 90% by Woodside Burrup Pty Limited, an affiliate company of Woodside, 5% by Kansai Electric Australia Pty Limited, that of Kansai Electric and 5% by Tokyo Gas Pluto Pty Limited, that of Tokyo Gas.

4.3 million tonnes per year of LNG is expected to be produced at the liquefaction plant, having capacity of 4.8 million tonnes per annum, which is located on Burrup Peninsula, near Karratha in Western Australia.

Out of these LNG production, Kansai Electric and Tokyo Gas have 15 year agreements to purchase 1.75 to 2 million tonnes per annum of LNG and 1.5 to 1.75 million tonnes per annum respectively with an extension option for up to five years.

Source - TEX Report Limited

voda 14 mei 2012 16:40

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First RasGas Q Flex vessel delivers LNG in Barcelona

The Peninsula reported that RasGas Company Limited achieved yet another successful milestone when the first Q Flex vessel delivered Liquefied Natural Gas at the Barcelona LNG receiving terminal, Spain. It is not only the first RasGas Q-Flex vessel to discharge LNG at the Barcelona LNG receiving terminal but it is also the largest the Terminal ever received.

The LNG cargo was delivered aboard RasGas' long-term chartered Q-Flex vessel the Al Utouriya. The cargo is part of RasGas long term LNG Sales and Purchase Agreement with Endesa Generacion, SA.

Mr Khalid Sultan R Al Kuwari RasGas Marketing and Shipping Executive said that "The delivery of this cargo by one of our long-term chartered Q-Flex ships into Spain is a great achievement for RasGas and Qatar as well as for our long term customer, Endesa and the Barcelona LNG Receiving Terminal. It is a further demonstration of our ability to supply and deliver LNG reliably and safely."

Mr Al Kuwari said that "LNG is increasingly becoming the fuel of choice to meet rapidly expanding energy requirements globally based on its environmental benefits, flexibility, reliability and competitive cost. We look forward to continuing to support Spain and the rest of our customers globally with their energy needs and will continue looking for opportunities to expand our market reach further in the future."

Source - The Peninsula

voda 15 mei 2012 16:22

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Pakistan becomes self sufficient in meeting LPG demand

The News reported that Pakistan has become self sufficient in meeting local demand of the liquefied petroleum gas and the dividend of exploiting this locally produced fuel has started benefiting the end consumers in the shape of drastic reduction in its prices, making it a viable auto fuel as well.

Industry sources said that as domestic production of LPG is up by 25% since the start of the year 2012, its price has also seen continuous decline lately. The present demand of 1,200 tonnes per day is being met through locally produced LPG.

An industry official said that after three years, we have once again become self-sufficient in meeting our local demand of LPG through domestic sources. It is expected that the local component of LPG will grow further by end of this year to 1,475 tonnes per day. After a gap of 5 years, LPG has now become cheap fuel if it is compared with petrol.

Besides initiative taken by the government to explore local LPG reserves, glut in market and illegal import of cheap commodity through Iran have been described as the main factors for this price cut. Nevertheless, various categories of consumers will indeed welcome this price decline amid prevalent severe energy crisis.

The latest LPG price cut was announced by the state owned Oil and Gas Development Company Limited as it reduced its base stock price of LPG for the third time this month to PKR 58,000 per tonne exclusive of duties and taxes. The latest price reduction of PKR 7,000 per tonne came in the wake of piles of unsold stocks and a mounting domestic production which is up by 25% since the start of the year.

Mr Belal Jabbar the spokesman for the LPG Association of Pakistan said that “LPG demand typically begins to slacken with the onset of summer. However, this year the demand has also been affected by an over supply of product both locally and from cheap and under invoiced Iranian imports.”

The current producer price is USD 225 or PKR 20,000 per tonne below the Saudi Aramco contract price with which LPG prices have remained indexed. The drastic reduction in price is effectively a de linkage from the international price benchmark and augurs well for the LPG industry, as the product has become cheaper than petrol, diesel and even CNG.

Mr Belal said that “In the light of the increasing domestic production, which has made imports altogether redundant, we urge the honorable federal minister Dr Asim Hussain to immediately notify de linking of LPG producer prices from Saudi Aramco CP as this will keep the product affordable for the common man.”

Source – The News.com

voda 15 mei 2012 16:23

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Syria keen on importing 900000 tonnes of LPG per annum from Iran

Tehran Times quoted a Syrian official as saying that his country’s willingness to import some 900,000 tonnes of LPG per year from the Islamic Republic of Iran.

Mr Nazih Jouhara DG of Syria’s General Corporation for Oil Refining and Distribution of Petroleum Products said that Syria needs about 900,000 tonnes of LPG per annum and hopes the amount would be provided by Iran.

Mr Jouhara said that the visit is aimed at finalizing a previous agreement for the construction of a refinery in Syria. In 2009, a joint Iran and Venezuela oil company planned to build a refinery in Syria with the capacity of refining 140,000 barrels of oil per day.

Malaysia and Syria are also involved in the project with Iran and Syria each taking 26% stake in the project while Venezuela owns 33% and Malaysia has 15%.

The South Pars gas field is shared by Iran and Qatar. The Iranian share which is divided into 24 phases has about 14 trillion cubic meters of gas or about 8% of the total world reserves and more than 18 billion barrels of liquefied natural gas resources.

Iran, which sits on the world's second largest natural gas reserves after Russia, is making efforts to boost gas production by expanding foreign and domestic investments in energy projects, especially in its South Pars gas field.

Source – Tehran Times.com

voda 15 mei 2012 19:31

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Shell stapt in Canadees gasproject

Gepubliceerd op 15 mei 2012 om 19:09 | Views: 96

DEN HAAG (AFN) - Oliemaatschappij Shell heeft met drie Aziatische partners overeenstemming bereikt over de ontwikkeling van een LNG-terminal in het Canadese Kitimat. Dat heeft het bedrijf dinsdag bekendgemaakt.

De terminal gaat bestaan uit twee productiefaciliteiten met elk een capaciteit van 6 miljoen ton vloeibaar gas per jaar. De mogelijkheid bestaat dat de capaciteit in de toekomst wordt uitgebreid. Ook komen er faciliteiten voor de opslag en export van LNG.

Shell neemt een belang van 40 procent in het project. De overige partners, het Koreaanse Kogas, het Japanse Mitsubishi en het Chinese PetroChina, nemen elk een belang van 20 procent. Als de plaatselijke autoriteiten de benodigde vergunningen afgeven, kan de productie voor het einde van dit decennium beginnen.

Hoe veel de vier partijen investeren in de terminal, is niet bekendgemaakt. De Japanse zakenkrant Nikkei wist vorige maand te melden dat het zou gaan om een bedrag van bijna 10 miljard euro.

voda 16 mei 2012 16:34

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Japan betaalt miljarden voor aandeel gasveld

Gepubliceerd op 16 mei 2012 om 06:59 | Views: 271

TOKYO (AFN) - De Japanse regering en diverse grote Japanse bedrijven trekken miljarden dollars uit om een aandeel te kopen in een Australisch veld met vloeibaar aardgas (LNG). Dat meldde een woordvoerster van JOGMEC, een Japanse overheidsagentschap dat verantwoordelijk is voor het veiligstellen van grondstoffen.

Voor 350 miljard yen (3,4 miljard euro) koopt het consortium een aandeel van 10 procent in het Wheatstoneproject. Japan zit dringend verlegen om nieuwe energiebronnen. Na de ramp in de centrale bij Fukushima besloot het land alle kernreactoren stil te leggen.

voda 16 mei 2012 16:50

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Oman LNG revenues soar to USD 4 billion in 2011

Oman LNG, the Sultanate's primary liquefied natural gas company has reported a hefty increase in revenues for fiscal 2011 which jumped 26.5% to USD 3.963 billion from USD 3.131 billion a year earlier.

Buoyant international energy prices averaging USD 101.68 per barrel in 2011 contributed significantly to income growth. Net income after tax also soared to USD 1.782 billion in 2011, entailing an increase of USD 400 million over the previous year's net earnings.

Dr Mohammed bin Hamad al Rumhy minister of Oil and Gas and Chairman of the Board of Directors of Oman LNG said that "Our performance in 2011 demonstrates the sustainable robustness of our business proposition to our customers, shareholders, employees, suppliers and communities."

He said that "The investment in Oman LNG has been a great success story from the first export cargo in 2000. This 12th annual report bears witness to this. The impact on revenues and the gross domestic product of the country continues to be significant second only to oil and Oman LNG 's investment in Corporate Social Responsibility is now second to none in Oman. Its investment in the training and development of its own employees is also exemplary and makes it an employer of choice amongst young Omanis."

He added that in all a total of 136 LNG cargoes were produced and delivered over the course of 2011 according to Oman LNG. Of this number, 87 were for Oman LNG and included two relief cargoes dispatched to Japan after the devastating earthquake and tsunami in March of last year. The remaining 49 cargoes were produced on behalf of its sister company, Qalhat LNG. In addition, 37 condensate cargoes were delivered on behalf of both LNG companies.

Dr Al Rumhy said that significantly, Oman LNG's creditable performance came against a number of international and domestic challenges. Global markets' uncertainties continued in 2011 with many fearing recessions in the developed economies spilling over into the emerging markets of Asia, South America and the Middle East.

He said that not surprisingly, our government's priorities for natural gas have changed and any growth in LNG exports in the coming years will be a balance between meeting identified domestic needs and the incentives of foreign revenues which together are essential for sustaining the momentum of Oman's economic growth and diversification.

Dr Brian Buckley GM & CEO of Oman LNG said that "The Middle East is experiencing rapidly growing populations and economies leading to steep rises in energy demands that are having to be met by natural gas imports, often in the form of LNG, and the diversion of oil for power. All these factors are driving the exploration and production of natural gas with greater determination than ever before in the region. These global and regional developments offer Oman LNG unique opportunities to build upon its central role as a generator of significant wealth for Oman and as a leading investor in Oman's social infrastructure and people."

Source - Oman Daily Observer

voda 17 mei 2012 17:12

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PetroChina and Shell to start LNG facility in Canada

China Knowledge reported that PetroChina Co Ltd China largest oil producer will launch a liquid natural gas project in Canada under the cooperation with Royal Dutch Shell Plc, Korea Gas Corp and Mitsubishi Corp.

The new facility, located at Kitimat, British Columbia of Canada is designed to have combined annual capacity of 12 million tons and the total capacity would be expanded to 24 million tonnes eventually.

With an estimated investment of around CAD 12 billion or USD 12 billion, the LNG project will be involved in construction and operation of LNG production, storage and port facilities.

Shell will hold a 40% stake in the new project while PetroChina, Kogas and Mitsubishi will each carry a 20% stake. The proposed project, which is still waiting for approval from regulators, is expected to start construction in 2015 and go into operation before 2020.

Source - China Knowledge

voda 26 juni 2012 16:13

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LNG grows in importance in global energy sector

Analysis of the energy sector by QNB Group showed that global energy consumption grew by 2.5% in 2011 equivalent of 247 million barrels of oil per day.

Oil itself remains the largest source of this energy, providing a third, with coal and gas close behind. Non hydrocarbon energy sources nuclear, hydro and other renewables together only meet 13% of energy demand.

The share of gas and non hydrocarbons in total consumption was almost identical a decade ago. The main change over that period is that the share of coal has increased by 6% due to China's rapid growth and exploitation of its domestic coal resources. As a result, oil's share has fallen by 6%.

International trade in hydrocarbons currently meets 35% of the world's energy needs. Within this, the growth in the LNG trade is one of the most significant developments of the last decade. The volume of LNG trade grew at a rate of 8.8% a year over that period more than triple the rate of overall energy consumption.

According to data just released in British Petroleum's annual Review of World Energy, however, LNG contribution is still small compared to oil. Around 6 million boe of LNG was traded every day in 2011, meeting about 2.4% of global energy usage but this is barely a tenth of the energy content of the oil trade. The oil figure is 55 million barrels per day including both crude oil and condensates from gas fields.

The proportion of hydrocarbons that are traded, rather than consumed in their countries of production is large and rising. This is because there is a mismatch between the location of hydrocarbon reserves and the demand for their usage. The largest net demand is in Europe and East Asia while much of the supply of oil and gas comes from the Middle East, Russia and Central Asia.

Oil is the most heavily traded hydrocarbon both in energy terms and in proportion to its production. In 2011, 62% of oil pumped from the ground was exported up from 57% a decade before. Only 31% of gas produced is traded, roughly a third of it as LNG. This is partly because infrastructure required to ship LNG is more expensive than the equivalent established systems for transporting oil. However, improvements in LNG technology in the last decade have reduced the trading costs.

Coal is the least traded hydrocarbon, comprising only 14% of traded energy. This is because it is expensive to transport and because the bulk of global coal reserves are located in countries that need it to meet their own domestic energy demands, particularly China and the US.

The growth in the LNG trade is demonstrated by the increasing number of countries involved in exporting or importing it. At the end of 2011, there were a total of 24 LNG liquefaction plants globally with a rated capacity of 278 million tonnes per year. The actual volume traded increased by 20.7 million tonnes to 240.9 million tonnes with two thirds of the increase coming from Qatar and the remainder from Yemen and Peru. Qatar exported 74.8 million tonnes in 2011, 31% of the global LNG supply.

Source - Arab News

voda 16 juli 2012 16:24

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Enorm gasproject Australië stap dichterbij

Gepubliceerd op 16 jul 2012 om 08:56 | Views: 802

PERTH (AFN) - De realisatie van een enorm gasproject aan de Australische westkust is een stap dichterbij gekomen. Maandag gaf een toezichthouder op het gebied van milieuzaken onder strikte voorwaarden toestemming voor het zogeheten Browse LNG-project.

Browse LNG (vloeibaar gemaakt aardgas) is een samenwerkingsverband van mijnbouwer BHP Billiton en de olieconcerns BP, Chevron en Shell. De jaarlijkse productie kan oplopen tot 50 miljoen ton. Dat is ruim twee keer zoveel als de huidige Australische LNG-export. Met het project is een investering van 30 miljard dollar gemoeid.

De toezichthouder Western Australian Environmental Protection Authority stemde in zolang aan 29 voorwaarden wordt voldaan. Het gaat daarbij onder meer om de bescherming van walvissen, dolfijnen en schildpadden. De deelstaat Western Australia en de Australische regering moeten nog met de plannen instemmen voordat het project kan worden doorgezet.

voda 14 augustus 2012 16:46

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Iran launches liquefied gas swap route in Caspian Sea

Tehran Times reported that Iran has launched a liquefied gas swap route in the Caspian Sea.

Mr Alireza Zeighami Iranian deputy oil minister announced that swapping other oil products such as furnace oil is currently underway with the Caspian Sea littoral states. Iran has not stopped oil swaps. Liquefied gas swaps had been carried out mainly via rail networks.

An official with the National Iranian Oil Company on July 7th 2012 absolutely rejected some news claiming that Iran has stopped swapping crude oil, saying that two ships carry Iranian oil at the Caspian Sea and deliver at the Persian Gulf on the weekly basis.

The official said that swapping crude oil is underway as it was in the past. Crude oil is loaded at the Neka Port and is delivered to international customers at the Persian Gulf. Between 15-30 thousand barrels of crude oil is swapped per day despite sanctions against the Islamic Republic's oil industry.

Mr Pirouz Mousavi said MD of the Iranian Oil Terminals Company said that "Iran has provided necessary facilities to increase oil swap with Central Asian countries through its northern oil terminal. IOTC is ready to increase oil swap operations between Iran and its oil producing neighbors in Central Asia.”

The official stated that the company gives priority to upgrading its oil swap terminal in Neka, in northern Iran, as the starting point of a major pipeline project which will connect Neka to the port city of Jask in southern Iran.

According to the official statistics released by NIOC, an average of 20,000 barrels per day of crude oil produced by Caspian Sea littoral countries is currently being swapped for delivery in the Persian Gulf and the figure is expected to hit 70,000 barrels per day in the coming months.

Source - Tehran Times

voda 17 september 2012 17:04

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Qatargas ups LNG supply to Japan

Qatargas announced that it is helping its Japanese customers by supplying over 20 million tonnes of LNG in the short term to help with the aftermath of the Great East Japan Earthquake. Qatargas has increased its support for Japan by 11 million tonnes from the original 9 million tonnes of short term supplies announced last autumn.

These volumes are in addition to the several new long term LNG supply agreements reached between Qatargas and its Japanese customers over the last 12 months. This is a substantial commitment to the energy security of Japan and is evidence of the strong relationship Qatargas enjoys with its Japanese stakeholders.

Mr Khalid Bin Khalifa Al Thani CEO of Qatargas said that "Being the world's largest LNG producer we are demonstrating one of our fundamental marketing principles that Qatargas sells LNG to where it is needed the most. As of now, Qatargas has delivered LNG to 21 countries with planned sales to several more in future. As we aspire to be the World's Premier LNG Company, we seek to maintain the highest standards of safety, reliability and integrity whilst offering our customers the required flexibility to meet their operational requirements."

Source - Qatargas

voda 10 oktober 2012 16:51

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Floating LNG fuel of the future

Leading global experts will be discussing the potential of floating liquefied natural gas at Gastech Conference & Exhibition one of the biggest energy conferences in the world which opened in London.

The Gastech conference which runs till October 11th 2012 brings the world’s professional gas community together to understand the issues impacting business and in the future.

An important meeting place, Gastech offers delegates face to face networking at the very highest level. The conference features more than 120 of the industry’s most prominent speakers and representatives and is comprised of ministerial keynotes, addresses, commercial, technical and specialty presentations, question & answer sessions and panel debates.

Experts pointed out those technological advances in storage and production facilities have added even greater weight to the claims that FLNG is the fuel of the future. While no FLNG facilities are currently deployed, the race is on, sparked by Shell’s Prelude plans.

They said that with global energy consumption demands expected to increase exponentially, the industry is turning its attention to liquefied natural gas as means of fuelling the future. The often burdensome costs however of recovering and transporting gas from remoter, deeper onshore reservoirs provide serious challenges for operators. Now buoyed by a number of offshore discoveries of major gas plays the focus is shifting to the potential of FLNG.

The Institute of Marine Engineering, Science and Technology is set to play a key role at Gastech’s Centres of Technical Excellence, a free to attend technical seminar program featuring key issues facing the energy industry today and in the future. IMarEST, the leading international membership body and learned society for marine professionals, will present a day long Floating LNG stream tomorrow at the CoTEs.

Dr Paul Jukes the president of MCS Kenny and chairman of IMarEST’s offshore oil & gas special interest group will chair the stream and will consider a number of pressing issues including: FLNG’s game-changing prospects for the LNG sector, choosing between liquefaction technologies, containment systems, LNG subsea loading lines and case studies.

Mr Jukes said that "In recent years the number of offshore gas discoveries has increased globally with LNG and FLNG becoming of even greater significance in terms of meeting the world’s future energy requirements. But with land-based LNG extraction facilities becoming more costly, FLNG is poised to offer an alternative means by which to unlock stranded resources as the demand for fuel soars.”

He said that “The CoTE seminars offer an excellent opportunity for IMarEST to present its expertise and to be associated with the Gastech brand. Through the IMarEST participation at the CoTE seminars we see the opportunity to reach out to the industry, attract new members and create greater awareness of the work of the Institute.”

Source - Trade Arabia

voda 22 oktober 2012 16:38

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Qatar LNG pricing strategy justified - Market analyst

The Peninsula reported that amid the ongoing standoff between the gas producing countries and buyers over the pricing strategy.

Mr Gopal Balasubramaniam head of Oil & Gas MESA Region, KPMG, strongly defended Qatar selling the liquefied natural gas linked to oil prices and justified the country's decision to ensure supplies to the buyers entered into long term agreements.

Mr Balasubramaniam said on the consuming countries' pressure on gas suppliers to ditch the oil linked prices oil indexed gas price is a long prevailing system. If energy hungry countries are willing to pay and Qatar is willing to supply what is the issue? The producers are taking the commodity to the consumers who pay better prices. This is the rule of the game.

On the international media reports of Qatar sending only its left over short term deliveries to some of its European buyers while more and more of its LNG goes to higher paying Asian customers Mr Gopal said Qatar has invested hugely in its LNG carriers. Hence long term deals are key for the country. QatarGas' last week deal with Chubu Electric Japan has also a long-term one.

He said that Qatar has invested heavily on its LNG carriers. The market dynamics prevent the country from entering into short term deals. Qatar needs to honor its commitments to large Asian consumers like Korea, Japan and India. When Qatar has to meet their long term commitments how can they come out and sell to other countries at lower prices?

The span of long term agreements is getting shorter these days. The long term agreements in contrast to the otherwise 20 years to 25 year deals have now come down to 10 years to 15 years period.

Mr Gopal however suggested Qatar may have to rework on its marketing strategy with the US Shale gas expecting to flood the global market by 2016. Australia's announcement to heavily invest in the LNG sector is another factor that would change the market dynamics of Qatari gas market.

He said that Australia's LNG production is set to peak to 120m tonnes by 2018 to 2020. Its surely a concern for Qatar that the market is close to its major Asian consumers. 2020 is long way off. Qatar might change its market strategy. Qatar's investment opportunities in Australia's gas sector cannot be ruled out. There are reports Qatar is trying to take stake in Australian LNG.

Source - The Peninsula

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