After two years of mediocre activity levels brought on by budget cuts and pandemic-related restrictions there will be an uptick in 2022 as operators work their way through the backlog in Asia Pacific.
Australia, which is profiting from surging gas prices in Asia, remains the largest liquefied natural gas (LNG) supplier to North Asia. But its market position in the booming Chinese market is under threat, warned Australian consultancy Energy Quest.
International oilfield service companies are facing significant challenges winning contracts in Southeast Asia as local suppliers are increasingly securing available work.
The government of Sri Lanka is seeking to attract “top international” investors and revive exploration in the country’s under-explored deep waters as it seeks to shift the island towards a gas-based economy. Significantly, it is looking for help appraising and developing two potentially large gas discoveries.
Singapore LNG (SLNG) and Linde have signed a memorandum of understanding to collaboratively explore the feasibility and development of a carbon dioxide (CO2) liquefaction and storage facility in what could be a first in Asia.
Singapore’s Keppel Offshore & Marine (Keppel O&M) has signed a global framework agreement with giant offshore wind developer Orsted to potentially undertake future offshore substation (OSS) projects.
With domestic supply in decline, Asia urgently needs to address its growing gas and energy needs. In the past few months, multiple energy crunches across the globe highlights that a flexible and reliable supply of energy is critical to keep markets and prices stable. In Asia, a growing gap between booming gas demand and falling supply is cause for significant concern.
President Joe Biden is preparing to announce a release of oil from the nation’s Strategic Petroleum Reserve (SPR) in concert with several other countries as soon as Tuesday, according to people familiar with the plan.
Japan is considering releasing oil from its strategic stockpiles, joining China and the US in a coalition of consumers that wants to tame a surge in energy prices that’s triggered a jump in inflation.
Dwindling inventories and concerns over energy security in key Asian economies may hamstring US efforts to arrange for a sizeable and coordinated release of strategic crude reserves in a bid to rein in prices and tackle inflation.
US engineering firm Bechtel expects at least $10 billion worth of business opportunities in Taiwan over the next decade as the island makes an aggressive push to cut back on coal and slash emissions, reported Nikkei Asia.
Analysts at Rystad Energy believe Southeast Asia could become the largest floating solar photovoltaic (PV) market in the world with several significant projects planned this decade.
Suppliers with access to low-cost renewables will have a competitive advantage when it comes to green hydrogen production. Australia and the Middle East sit in the top echelons for solar irradiance and offer massive green hydrogen potential, according to Wood Mackenzie’s latest analysis.
Asian liquefied natural gas (LNG) traders are rushing to secure shipments from the US, where prices are among the cheapest in the world, amid a dash to replenish supply before the winter.
A weather phenomenon that typically delivers harsher winters is on the way and expected to add to Asia’s energy crisis.
Investment research firm Bernstein has named Australian liquefied natural gas (LNG) developer Woodside (ASX:WPL) as its “best idea” for the fourth quarter 2021 as prices surge and the Asian market tightens. Significantly, Woodside is one of the most exposed LNG suppliers to the spot market.
ExxonMobil (NYSE:XOM), which set up a low-carbon solutions division in February, is focusing on building a carbon capture and storage (CCS) business in Asia. Significantly, ExxonMobil believes there is over 300 billion tonnes of storage capacity in Southeast Asia alone, Tracy Lothian, vice president marketing, finance & commercial development, low carbon solutions, at the US giant, said today.
Surging oil and gas prices will see the upstream industry generate a wall of cash, which in the past led to rising upstream spend. But the energy transition has upset the outlook for oil and gas producers, changing the rules of the game for not only international oil companies (IOCs), but also national operators and host governments, according to Wood Mackenzie.
Qatar, the world’s biggest exporter of liquefied natural gas (LNG), warned that prices have climbed to “unhealthy” levels.
China’s announcement at the United Nations General Assembly that it will no longer build any new coal-fired power plants abroad accelerates the energy transition in Asia’s emerging markets but also raises challenges, according to a new analysis by the IHS Markit Global Power and Renewables service.
The nascent offshore wind market in the Philippines, which is Southeast Asia’s second most populous country, offers exciting opportunities for foreign investors, particularly experienced UK companies.
Energy majors, including Chevron, ExxonMobil, JERA, JGC, Mitsubishi Heavy Industries, Santos and SK E&S, are banding together to help nations in Asia achieve lower carbon emissions by promoting natural gas. Together they have established an advocacy group called Asia Natural Gas and Energy Association (ANGEA) that will join with policymakers to find solutions to cut carbon emissions.
Asian liquefied natural gas (LNG) prices surged to a record-high as global competition for the super-chilled fuel intensified amid low inventories and coal shortages.
Indonesia has approved the subsea route for what could be the world’s first intercontinental power grid, connecting Australia to Singapore, with 24/7 renewable power. The official nod means Sun Cable’s ambitious project, that proposes the world’s largest solar farm, the world’s biggest battery, and the world's longest undersea cable, has moved a step closer to reality.
As global markets consolidate recovery from the Covid-19 pandemic, LNG markets globally are tightening, with demand growth led by anticipated surge in Asian and Latin America demand.