China raises coal and gas imports to counter energy crisis
China’s energy crunch pulled in more coal and gas imports in September, as buyers scrambled to ensure adequate supplies to counter a deepening power shortage ahead of peak winter demand.
Gas
Putin says Russia is ready to supply extra gas to Europe
Russia is ready to deliver all of the natural gas that Europe needs, said President Vladimir Putin, blaming the continent’s current energy crisis on flawed policies rather than a lack of supply.
Major Russian gas plant shut down following fire
A large gas refinery in the Far East of Russia has been shut down after a fire erupted at the site early on Friday morning.
Amid wall of cash Asian governments must do more to support upstream, says Woodmac
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.
Repsol sets date for Indonesia CCS project
Repsol (BME:REP) said it will start up a key carbon capture and storage (CCS) project in Indonesia in 2027. Significantly, the CCS scheme tied to the onshore Sakakemang Block will be among the largest of its kind in the world and will be the first for both Repsol and Indonesia, claimed the Spanish company.
Top LNG exporter Qatar warns gas prices are at unhealthy levels
Qatar, the world’s biggest exporter of liquefied natural gas (LNG), warned that prices have climbed to “unhealthy” levels.
Vietnam’s PV Power seeks $1.4bn loan for gas-to-power
Vietnam's state-run PetroVietnam Power Corp (HM:POW.) has signed a deal to allow a consortium of two local banks to arrange a $1.4 billion syndicated loan for two liquefied natural gas (LNG) projects, the government said yesterday.
Thailand’s PTT and Tokyo Gas set up JV for LNG
Japan’s Tokyo Gas (TYO:9531) and Thai state-backed energy company PTT (BKK:PTT) will set up a joint venture to enter the on-site energy business involving liquefied natural gas (LNG) supply in Thailand.
Russia offers to ease Europe’s gas crisis, with strings attached
With winter fast approaching and a stunning energy price surge pummelling Europe, Russian President Vladimir Putin chose an opportune moment to use his country’s leverage as an oil and gas superpower.
China tells gas importers to bear high cost to fix energy crisis
China is urging its liquefied natural gas (LNG) importers to procure more supply to fix its energy crisis, while providing little financial support for firms paying record-high rates for the super-chilled fuel.
Shell left ‘disappointed’ after UK regulator declines to approve Jackdaw plans
Shell’s Jackdaw project has been dealt a blow after the UK regulator declined to approve its field development plans.
China’s overseas coal moratorium ups challenges for Asia, gas needed as a bridging fuel
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.
Petronas upstream investment approvals to accelerate
Malaysian national energy company Petronas is expected to accelerate final investment decisions (FIDs) for upstream oil and gas projects between 2022 and 2023 following a sharp decline over 2020-21, according to the latest research from Rystad Energy.
Beyond the noise: setting the right expectations for Vietnam’s LNG project pipeline
Vietnam is quickly becoming one of the most promising liquefied natural gas (LNG) importing markets in Asia. Industry players—both domestic and global—have voiced their intent to pursue projects in Vietnam, encouraged by the government’s departure from its traditional coal-centric mindset and the rapid penetration of renewable energy in Vietnam’s power mix in recent years.
Thailand’s PTTEP gets new boss, eyes energy transition
State-backed Thai player PTT Exploration & Production’s (PTTEP’s) new chief executive, Montri Rawanchaikul, intends to strengthen the firm’s core upstream business in Southeast Asia, while preparing for new energy opportunities.
China’s energy crisis highlights weaknesses in Xi’s power plans
China’s energy crisis has highlighted weaknesses in one of President Xi Jinping’s top priorities -- energy security -- that could have ramifications for the power system for years to come.
Jakarta beefs up defences in Natuna Sea after China meddles in Harbour Energy block
Jakarta is preparing to bolster its maritime security defences in the Natuna Sea, which is rich in fisheries and natural gas, after increasing incursions by Chinese vessels within Indonesia’s exclusive economic zone (EEZ). The news should provide some comfort to upstream oil and gas investors operating in the Natuna Sea.
China orders top energy firms to secure supplies at all costs
China’s central government officials ordered the country’s top state-owned energy companies -- from coal to electricity and oil -- to secure supplies for this winter at all costs, according to people familiar with the matter.
Woodside set to benefit from China’s energy crisis
Analysts expect Australian liquefied natural gas (LNG) supplier Woodside (ASX:WPL) to benefit as China faces a severe winter of energy shortages, with primary energy demand surging to a 10-year high.
The global gas crunch may switch off lights in Pakistan
Pakistan only started importing liquefied natural gas (LNG) six years ago, but its growing dependence on the super-chilled fuel is starting to turn into a nightmare.
Sri Lanka vows to push on with LNG imports even as gas surges
Sri Lanka will forge ahead with plans to import liquefied natural gas (LNG) in the next few years, even as a global supply crunch sends prices of the fuel soaring.
Surging gas prices squeeze PetroChina with $3bn loss looming
While most gas suppliers look set to benefit from a global spike in gas prices, PetroChina (HK:857) is one of the few exceptions, as regulated prices and rising gas import losses are set to squeeze China’s largest gas producer.
BP signs 5-year LNG deal with Australia’s Beach
BP (LON:BP) has signed a heads of agreement to buy 3.75 million tonnes per year (t/y) of liquefied natural gas (LNG) from Beach Energy’s (ASX:BPT) onshore Waitsia gas project in Western Australia’s Perth basin for a five-year term.
China’s power crunch is world’s latest supply-chain threat as gas shortage bites
China’s energy crisis is shaping up as the latest shock to global supply chains as factories in the world’s biggest exporter are forced to conserve energy by curbing production in part due to gas shortages. Significantly, China the world’s top buyer of natural gas, has not filled stockpiles fast enough, even though imports have surged in the last year. This could spark a global bidding war for gas supplies.
Big gas discovery bodes well for Australia’s Perth basin
Australian junior Norwest Energy (ASX:NEW) recently announced a large gas discovery in the onshore Perth basin in Australia. The news bolsters recent analysis from consultancy Rystad Energy that suggests conditions are ripe for a significant development opportunity, with the basin potentially emerging as a key source of gas supply in Western Australia.