Surging US Henry Hub gas prices, as well as higher and extremely volatile global gas prices, offers a lesson for emerging markets that investment in gas importing, distribution and power production assets will lead to stranded assets and lost wealth, according to analysis from IEEFA.
Vietnam aims to begin importing its first liquefied natural gas (LNG) cargoes in 2022 as part of a longer-term plan to maintain stable natural gas supply and meet rising demand for power, the country’s Minister of Industry and Trade Nguyen Hong Dien said.
BHP Group will transfer some $3.9 billion worth of oil and gas decommissioning liabilities to Woodside if the pair’s merger goes through successfully. The liability is much smaller than expected helping to ease investor concerns at Woodside.
Australian liquefied natural gas (LNG) developer Woodside has joined five parties to establish the HyStation company, which aims to build and operate hydrogen refuelling stations to service public transport bus fleets in South Korea.
Australia’s Santos today announced that it has signed a memorandum of understanding (MoU) with East Timor’s regulator ANPM to progress a carbon capture and storage (CCS) project, estimated to cost $1.6 billion, at the ageing Bayu Undan field in the Timor Sea. But low returns and high complexity threaten the viability of the proposed scheme.
Japan’s Inpex said yesterday that it has made arrangements for a ‘carbon neutral’ shipment of liquefied natural gas (LNG) from the Inpex-operated Ichthys LNG project in Australia to be delivered to compatriot Toho Gas.
Malaysia's state energy company Petronas and Japanese oil giant Eneos are exploring opportunities to develop a clean hydrogen supply chain between the two nations.
The government of Papua New Guinea (PNG) has raised concerns that Santos’ proposed $15.5 billion merger with Oil Search could harm national interests in the liquefied natural gas (LNG) exporting country.
Santos and Oil Search have agreed a merger deal that will create a A$21 billion ($15.5 billion) Asian oil and gas producer, confirming terms agreed on last month.
Liquefied natural gas (LNG) shipments tagged “carbon neutral” are gaining popularity among Asian buyers, despite criticism that the offsets used to justify the label don’t actually cancel out planet-warming emissions generated by the fossil fuel.
Carbon capture and storage (CCS) will play an important role in decarbonising liquefied natural gas (LNG), but the pace of progress remains too slow, writes Gavin Thompson, Asia Pacific vice chair, Wood Mackenzie.
The Vietnam government has given environmental approval for Delta Energy Offshore’s proposed liquefied natural gas (LNG) import terminal and power project in southern Vietnam.
The government of Bangladesh has shortlisted eight potential global companies, including ExxonMobil and TotalEnergies, as well as various Japanese players, to build the South Asian nation’s first onshore liquefied natural gas (LNG) import terminal. Significantly, the proposed 7.5 million tonne per year (t/y) LNG processing facility would double Bangladesh’s import capacity.
India’s top energy companies, Petronet LNG Ltd. and ONGC Videsh Ltd., are having discussions about buying a stake in Russia’s planned liquefied natural gas project Arctic LNG 2, as their government seeks to secure supplies of the cleaner burning fuel.
Australia’s offshore environment and safety regulator NOPSEMA has ordered BHP to clean up three offshore fields following years of “limited action” and equipment sinking to the seabed, reported BoilingCold. This will add to the decommissioning burden Woodside will inherit if it absorbs BHP’s oil and gas assets as part of a deal announced last month.
Natural declines and underinvestment in new exploration has left Philippine oil and gas production in freefall posing significant risks to future energy security. The risk is particularly acute given how reliant the Southeast Asian nation is on oil and gas for power generation, industrial processes and transportation, warn analysts at Fitch Solutions. But interest from investors has been rekindled.
TotalEnergies will use two storage tanks at the Arun liquefied natural gas (LNG) regasification and receiving terminal in Indonesia after signing an agreement with Pertamina.
Malaysia’s national energy company Petronas is considering selling some of its oil assets to bolster its finances as the federal government seeks a bigger dividend and to help streamline its business for the energy transition. Overseas assets in Africa, Middle East and Southeast Asia could be put up for sale.
BP and its Tangguh LNG partners today confirmed that Indonesian oil and gas regulator SKK Migas has approved the plan of development (POD) for a key carbon capture utilisation and storage (CCUS) project at the Tangguh LNG export complex. Significantly, BP claims this will make Tangguh "one of the lowest greenhouse gas (GHG) intensity liquefied natural gas (LNG) plants in the world."
Indian Oil Corporation said Friday that it is expanding its joint venture with Malaysian state-backed energy company Petronas to include building liquefied natural gas (LNG) terminals, as well fuel retailing and gas distribution in India. Liquefied petroleum gas (LPG) is already imported by Indian Oil under an equal joint venture with Petronas called IndianOil Petronas.
Over the past year or so, liquefied natural gas (LNG) producers, as well as buyers in North Asia, particularly Japan, have been quick to announce their involvement with so called ‘carbon-neutral LNG’ cargoes. However, some LNG buyers at the Future Energy Asia conference questioned whether LNG can really be carbon neutral.
Tengku Muhammad Taufik, chief executive of Malaysian national energy company Petronas, today told the Asia Future Energy conference, that the pathway to a sustainable energy system is not yet clear. Moreover, there will be many different paths to achieving a net-zero emissions energy system, he said.
Indonesia's crude oil and natural gas production growth outlook continues to be downbeat. Total oil and gas output have seen broad declines since 2010 and the long-observed trend is not expected to be reversed any time soon, reports Fitch Solutions.
Natural gas and liquefied natural gas (LNG) will remain highly important to Thailand’s power sector and as a bridging fuel during the Southeast Asian nation’s energy transition, Auttapol Rerkpiboon, chief executive of state-backed Thai energy company PTT, told the Future Energy Asia conference today.
Thailand’s B.Grimm Power will form a 50/50 joint venture to source and trade liquefied natural gas (LNG) with PTT Global LNG, a subsidiary of state-backed energy company PTT.