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.
The China-based Asian Infrastructure Investment Bank (AIIB) and the International Renewable Energy Agency (IRENA) have signed a memorandum of understanding committing to work together to support Asia’s energy transition and mobilise greater private capital for renewable energy. Significantly, the AIIB has been viewed in some quarters as a potential rival to the World Bank and IMF.
China, which is on track to overtake the UK and become the world’s largest offshore wind market, offers niche opportunities for experienced Scottish companies.
Europe may break new record gas prices, Gazprom head Alexey Miller has warned, noting under supplied gas storage facilities in the region.
OGUK makes case for UK supply amid soaring gas prices, Equinor given nod to increase exports to ease shortfall
Soaring gas prices across Europe reinforce the need to maintain supply from the UK North Sea, according to Oil and Gas UK (OGUK).
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.
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.