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LNG

Petronas to build £324 mln LNG terminal

Malaysia’s state-run Petronas plans to spend $324 million on building an LNG receiving terminal in Lahad Datu, Sabah, Reuters reported on Wednesday.

16 May 2012
Supply & Demand

Indonesian distributor raises West Java gas price by almost 50%

Indonesian state gas distributor Perusahaan Gas Negara (PGN) has increased the price of gas for customers in West Java by almost 50% after renewing contracts with producers in South Sumatra.

16 May 2012
Global Markets

Perusahaan Gas Negara to increase price of gas

Indonesia’s state-owned Perusahaan Gas Negara (PGN) has increased the price of gas for customers in West Java by 48.97% to an average of $10.13/MMBtu after renewing its contracts with producers in South Sumatra, The Jakarta Post reported on Tuesday.

15 May 2012
Supply & Demand

Tepco LNG consumption up by 1.8%

Japan’s Tepco expects to consume a record 23.3 mt of LNG in fiscal year 2012-2013, up by 1.8% year-on-year, to makes up for the loss of nuclear energy, Reuters reported on Tuesday.

15 May 2012
Companies & Finance

Bidders for Reliance pipeline business named

India’s state-run Gail and Oil India, and New York Stock Exchange-listed transportation company Enbridge are among the 11 companies bidding for Reliance Industries’ pipeline business Reliance Gas Transportation Infrastructure, The Economic Times reported on Tuesday.

15 May 2012
Supply & Demand

India acknowledges its dire gas supply outlook

By publishing its dire outlook for India’s gas supplies over the next three years, the government also confirmed last week that it is working to quickly reverse the situation with LNG imports and unconventional production, Petroleum and Natural Gas Secretary GC Chaturvedi told Interfax.

15 May 2012
Supply & Demand

Tokyo Electric hit with huge losses as glimmer of nuclear hope emerges

Tepco posted a $9.8 billion net loss for the year ending 31 March 2012, the company said on Monday.

14 May 2012
Global Markets

Gas Malaysia likely to debut on country's stock exchange

Gas Malaysia received the Malaysian Securities Commission’s approval on Monday to register its listing prospectus and is now expected to debut on the country’s stock exchange, Bursa Malaysia, on 11 June, according to Reuters.

14 May 2012
Exploration & Production

Reliance's reduced gas reserve estimate is 'credit negative' - Moody's

Moody’s Investor Service has said that the reduction in Reliance Industries’ gas reserve estimates is a credit negative for the Indian company because it confirms the technical difficulties its exploration and production business faces from lower output and cash flows, Dow Jones reported on Monday.

14 May 2012
LNG

Indonesia keeps pushing LNG contract renegotiation with China

The Chinese government is starting to show a positive response to Indonesia’s ongoing pressure to renegotiate the price for LNG exports from the BP-operated Tannguh LNG plant in West Papua, Coordinating Minister for Economic Affairs Hatta Rajasa said last week.

14 May 2012
Pipelines, Storage & Power

China-Myanmar gas pipeline to enter operations in June 2013

Since signing an agreement to build a cross-border pipeline with China in March 2009, Myanmar has undertaken steps towards political reform – developments that may presage heightened engagement with international energy majors.

14 May 2012
LNG

Fourth Japanese utility taps LNG from Chevron’s Wheatstone

Chevron has signed a fourth agreement with a Japanese buyer for LNG from its 8.6 million ton per annum (mtpa) Wheatstone project, underlining the continuing importance of Australian gas to Asian markets, despite the higher prices compared with other exporters.

14 May 2012
Policy & Regulation

Arrow Energy responds to Australian newspaper reports

Arrow Energy, a subsidiary of PetroChina and Royal Dutch Shell, has responded to newspaper reports on Thursday that a fine for hydraulic fracturing (‘fracking’) has tainted the company’s “clean claim”.

11 May 2012
Companies & Finance

Six lenders mandated for Singapore transmission project

A total of six Asia-based banks have been mandated to arrange a $1.2 billion project finance package for the installation of two power transmission lines for electricity and gas distributor Singapore Power Group.

11 May 2012
Companies & Finance

LNG export projects at the top of Inpex’s priorities

Japan’s Inpex is preparing to begin the front-end engineering and design (FEED) work on its proposed Abadi floating LNG (FLNG) project in Indonesia in the second half of 2012, with the aim of making it the world’s second floating liquefier after partner Royal Dutch Shell’s Prelude.

11 May 2012
Exploration & Production

Rejected bidders re-apply for Philippine exploration contracts

Four bidders that applied for oil and gas exploration contracts in the Philippines on 27 April, but were rejected, have asked the Philippine Department of Energy (DOE) to reconsider their proposals.

11 May 2012
Exploration & Production

Philippines’ Philex in talks with CNOOC for South China Sea partnership

Philex Petroleum has discussed a possible partnership with China National Offshore Oil Corp. (CNOOC) to develop a gas prospect in the Recto Bank, it was revealed on Tuesday in Manila.

10 May 2012
Exploration & Production

Protest threatens output at Conoco’s Indonesian Suban field

An ongoing blockade by local villagers of the main access road to the ConocoPhillips-operated Suban gas field in South Sumatra could have repercussions on Indonesia's gas supply, according to Indonesia's oil and gas regulator BPMigas.

10 May 2012
LNG

India’s commerce minister courting potential gas suppliers

LNG supply agreements have climbed to the top of Indian Minister of Commerce and Industry Anand Sharma’s priorities over the past year, he told Interfax in an exclusive interview.

10 May 2012
Companies & Finance

Reliance to receive $2 billion loan

India’s Reliance Industries will receive a $2 billion loan from nine banks through a 13-year facility that will help the company diversify its funding sources and extends the maturity profile of its long-term debt in a cost-effective way, the company said in a statement on Wednesday.

10 May 2012

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