Asia Pacific

Companies & Finance

Kogas hopes for higher gas prices come March

State-run Korea Gas Corp. (Kogas) and the South Korean government are hoping to lift the country’s gas tariff for city distribution by 1 March, after a small rise last year failed to cover Kogas’ fuel costs and investment plan, a company official said in a conference call on Thursday.

16 February 2012
Exploration & Production

India’s Reliance faces troubling times

HSBC downgraded Indian independent oil and gas heavyweight Reliance Industries to “underweight” on Wednesday, following other analysts who have predicted troubling times ahead for the company as its production from the Krishna Godavari Basin continues to fall.

15 February 2012
Companies & Finance

Tokyo Electric buys 71 spot LNG cargoes

Japan’s Tokyo Electric bought 71 spot LNG cargoes amounting to 4.35 million tons (mt) between April and December 2011, according to Reuters on Wednesday.

15 February 2012
Supply & Demand

South Korean LNG imports dropped 41% in January

South Korea’s LNG imports in January dropped by 41% year-on-year to 2.89 million tons (mt), Reuters reported on Wednesday.

15 February 2012
Companies & Finance

India considers divesting ONGC stake

A panel of Indian ministers will meet on Wednesday to consider divesting some of its stake in Oil and Natural Gas Corp. (ONGC), India’s largest oil and gas explorer, Dow Jones reported on Tuesday.

14 February 2012
Pipelines, Storage & Power

PLN will begin plant tender process

Indonesian state-run power generator PLN will begin the tender process for two gas-fired plants in Bengkanai, central Kalimantan, and Bontang, eastern Kalimantan; with a combined capacity of 330 MW, The Jakarta Post reported on Tuesday.

14 February 2012
Exploration & Production

Bidding for Indonesia’s Makassar Strait projects expected soon

Indonesia expects to launch a bidding round for the development of three Chevron-operated deep-water reserves in the Makassar Strait within the next two months, in the hopes of beginning gas production by 2016.

14 February 2012
Policy & Regulation

$13 billion bailout keeps Tepco solvent

The Japanese government will provide Tokyo Electric Power Co. (TEPCO) with an additional $13 billion cash injection amid concerns the struggling utility would be forced to delist from the Tokyo stock exchange.

13 February 2012
LNG

Singapore’s LNG terminal set for 2013 launch

Singapore’s first LNG receiving terminal is 80% complete and on track to become fully operational in the second quarter of 2013, state-run developer Singapore LNG (SLNG) said on Monday.

13 February 2012
Pipelines, Storage & Power

Pakistan bets on UCG for cheaper power generation

The immense potential of Pakistan’s Thar coal reserves have so far failed to come true, but speculation is now swirling that the country could generate as much as 100 megawatts of electricity from underground coal gasification (UCG) by 2015.

13 February 2012
Supply & Demand

Japan’s LNG imports spike in January

Japan’s 10 largest utilities imported 5.19 million tons of LNG in January 2012, according to figures released on Monday by the Federation of Electric Power Companies of Japan.

13 February 2012
Companies & Finance

JAPEX profit down on rising LNG prices

Japan Petroleum Exploration Co. (Japex) reported a 3.5% decrease in gross profit on the back of soaring LNG prices and rising costs related to meeting peak winter gas demand in Japan, the company reported on Friday.

10 February 2012
Companies & Finance

Unconventional outlook uncertain outside US

The outlook for global unconventional gas development outside of the United States “remains uncertain,” despite growing interest in key markets such as China and Europe, the International Energy Agency’s Chief Economist Fatih Birol told Interfax

10 February 2012
Policy & Regulation

EU ups pressure on Myanmar to reveal gas revenues

With the prospects of lifting sanctions on Myanmar from late April, the EU is also putting more pressure on the south-east Asian republic to reveal its revenues from the oil and gas sector.

10 February 2012
LNG

Chubu Electric reaches 16-year LNG supply deal with BP

Japan’s Chubu Electric Power announced on Friday that it had reached a deal with BP Singapore to purchase approximately 8 million tons of LNG over a 16-year period starting in the financial year 2012, according to a statement released online.

10 February 2012
Supply & Demand

Japan forecasts major increase in world gas demand

The world would need an additional 143 million tons of oil equivalent (mtoe); about 172 billion cubic metres of gas by 2035 in a low nuclear scenario, the Institute of Energy Economics of Japan (IEEJ) said in its Asia/World Energy Outlook 2011 report on Wednesday.

9 February 2012
LNG

Japan looks to Brunei for extra LNG

Japan welcomes any additional LNG supply that Brunei can spare, an official from the Japanese government told reporters on Thursday, the Brunei Times reported.

9 February 2012
Pipelines, Storage & Power

Gas power plant in north Jiangsu enters trial operations

Huai’an City in Jiangsu Province has put its first gas-fired distributed power plant into trial operations, Guoxin Huai’an Gas Power, the plant’s operator, announced on Wednesday.

9 February 2012
Policy & Regulation

Indonesia negotiating with Sempra over LNG allocation

The Indonesian government is negotiating with United States-based Sempra Energy to take back over 75% of the 3.7 mtpa of LNG allocated to the company, oil and gas regulator BPMigas told The Jakarta Post on Wednesday.

9 February 2012
LNG

India’s heavy reliance on Qatari LNG

Iran’s threat to close the Strait of Hormuz has highlighted India’s dependence on Qatari LNG for nearly 90% of its imports. With India’s need for LNG rising sharply, the country is beginning to diversify its supplies.

7 February 2012

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