Samsung Heavy wins major LNG carrier contract
The company said this was larger than its previous largest order, which was for 16 methanol-power containerships, worth 3.95trn won ($3bn).
Asia
Asia Oil and Gas news and updates
Castorone off Scarborough work for at least a month
Saipem’s initial assessment attributed the problem to a software anomaly. This appeared to have led to a tensioner failing.
Total strikes for OMV’s Malaysian unit in $900mn move
“This agreement streamlines our Energy portfolio and is in line with the OMV Strategy 2030 of reducing oil and gas production over time,” said OMV CEO Alfred Stern.
Conrad, Coro delay Mako FID as costs rise
The Australian listed company said it had made progress on the project during the last few months, with total costs now estimated to be $325 million. Costs to reach first production are $250mn. Previously, it had forecast total costs to be $303mn.
Saipem’s Castorone chalks up second accident in a month
The union went on to say Saipem's Castorone would have to return to Broome and probably be down manned.
Seatrium warns of “significantly higher” loss for year
The result is that Seatrium has warned it faces “financial loss that is significantly higher than the previous year”.
All Asia Posts
Woodside completes Pluto LNG Train 2 sell-down to GIP
Australia’s Woodside (ASX:WPL) has completed the sale of a 49% non-operating participating interest in the Pluto Train 2 joint venture to Global Infrastructure Partners (GIP).
Japan nears maiden offshore gas project in more than 30 years
Inpex is set to start an exploration drilling campaign offshore Japan as it seeks to prove up new oil and gas fields, which if commercialised will mark the nation’s first new offshore gas development in over three decades.
Australia’s hottest day in 60 years triggers LNG plant outage
Australia matched the country’s highest temperature on record, triggering a bushfire warning and temporarily shutting a liquefied natural gas (LNG) export plant on Friday.
South Korea’s Daewoo wins $553m deal for Chevron’s Jansz-lo Australian project
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) reported that it has won a contract worth 656.1 billion KRW ($553.4 million) from Chevron to build an offshore facility for the Jansz-Io gas field development offshore Australia.
Asia’s richest man plans to invest $76 billion in green projects
The conglomerate led by Mukesh Ambani, Asia’s richest man, announced plans to invest $76 billion toward clean energy projects, dwarfing an earlier commitment of $10 billion by the world’s biggest fossil-fuel billionaire.
Japex signs up to develop Northern Vietnam LNG terminal
Japan Petroleum Exploration (Japex) has signed on to construct a liquefied natural gas (LNG) terminal in the north of Vietnam.
EnerMech drives regional growth with new Asia Pacific director
EnerMech has appointed Garry Ford as regional director for Asia Pacific as the group looks to drive further growth and strengthen its existing oil and gas operations across the region.
Petronas strikes third gas discovery at Balingian off Sarawak
Petronas Carigali, the upstream subsidiary of Malaysian national oil company (NOC) Petronas, has made a gas discovery at the Hadrah-1 wildcat exploration well of Block SK411, located in the shallow waters of Balingian province about 170 kilometres northwest off the coast of Sarawak, Malaysia.
Sembcorp finishes first newbuild floater for Shell
Singapore’s Sembcorp Marine said it has successfully completed the Vito regional production facility (RPF) for Shell that will operate in the US Gulf of Mexico.
Capricorn set for $1bn refund as Indian tax case draws to close
Capricorn Energy – formerly Cairn – has withdrawn global legal proceedings against the Indian government, paving the way for a $1bn tax refund.
Petronas and Sabah launch gas masterplan
Malaysia’s Petronas and the Sabah State Government on Tuesday launched the Sabah gas masterplan that serves as a reference for both parties in guiding the way forward for the further development of natural gas in the Malaysian state.
China’s virus lockdowns cast a pall over oil demand growth
China’s worst Covid-19 outbreak since the inaugural flareup in Wuhan is blunting oil demand growth in the world’s largest crude importer, although most major population centers remain unaffected so far.
Pertamina makes gas discovery at Mahakam
Pertamina’s Manapatu 1x exploration well in the Mahakam Block offshore East Kalimantan has hit gas. It marks the first discovery for Indonesia in early 2022.
Kazakhstan’s Tokayev sets state of emergency as fuel protests spread
Kazakh President Kassym-Jomart Tokayev accepted the government’s resignation Wednesday after increases in fuel prices led to clashes between protesters and police in central Asia’s largest energy producer.
South Korea chided for declaring gas a sustainable investment
South Korea’s government is being criticised for including natural gas in a category of activities that it deems will help cut emissions.
Sembcorp Marine’s yard faces arbitration with $76 million claim
Singapore-based offshore construction company Sembcorp Marine (SGX:S51) has announced that its wholly-owned subsidiary, Jurong Shipyard, is facing arbitration under four separate contracts due to allegations of a breach of contract and payment claims exceeding $76 million relating to the termination of these contracts.
EnQuest ordered to pay Malaysian contractor £12.7million
UK-listed EnQuest (LON:ENQ) has been ordered to pay 71.6million RM (£12.7million) in a dispute with a Malaysian contractor over offshore works.
ExxonMobil Indonesia lawsuit set for trial after 20 years
A longstanding US lawsuit filed against ExxonMobil (NYSE:XOM) that alleges the oil and gas giant was responsible for human rights violations, including sexual assault, battery and wrongful death, that was committed by members of the Indonesian military, could be heard in court within months, reported Nikkei Asia.
Australian share prices ignore surging LNG revenue
While 2021 has seen a surge in revenue from liquefied natural gas (LNG) sales, this has not been reflected in the share prices of the three Australian companies most leveraged to LNG revenue: Woodside (ASX:WPL), Santos (ASX:STO) and Origin Energy (ASX:ORG), EnergyQuest said in a note today.
Australia posts record LNG exports in 2021
Australian exports of liquefied natural gas (LNG) hit a record high in 2021 of 80.9 million tonnes, according to estimates based on shipping data from EnergyQuest. Significantly, it is likely that 2021 is close to the peak of Australian LNG production, added the Adelaide-based consultancy.
China LNG demand to peak in 2022
This year will mark a peak for liquified natural gas (LNG) imports into China as domestic production is set to expand and pipeline imports increase, predict analysts at Fitch Solutions.
Ambitious Cairn hires former BP exec as COO
Cairn Oil & Gas, India’s largest private exploration and production company, has appointed former BP executive Martyn Smith as chief operating officer.
Gas shortage leads to Pakistan losing 20% of vital textile exports
Pakistan’s natural gas shortage is hurting its most important export industry, putting even more stress on an economy already struggling with accelerating inflation and a weakening currency.
Power-hungry Asia to see demand growth continue apace in 2022, says Woodmac
After the boom in regional power demand over the past 12 months, the outlook remains positive with Wood Mackenzie now expecting a 8% growth in Asian power demand in 2022.
Keppel and Shell driving adoption of LNG in Singapore
FueLNG, a bunkering joint venture between Keppel O&M and Anglo-Dutch major Shell, is driving the adoption of liquefied natural gas (LNG) in Singapore with over 460 operations carried out in 2021, comprising ship-to-ship (STS) and truck-to-ship bunkering, and truck-to-industry operations. FueLNG will also start servicing BHP. This will help bolster Singapore’s efforts to establish itself as a global LNG bunkering hub.