We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
 Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A+/Stable) underscores CNPC's strategic role in the country's gas pipeline infrastructure and helps China to secure adequate gas supply over the medium term, especially for the north-eastern part of the country.
Under the deal, Gazprom will supply 38 billion cubic metres (bcm) of gas a year starting around 2018 at a price that sets a new benchmark for what China is willing to pay for natural gas over longer term contracts.
The agreement also demonstrates China's determination to switch to cleaner energy. China used around 168bcm of natural gas in 2013 and aims to use over 400bcm in 2020. The import agreement will meet close to 10% of China's consumption of natural gas in the medium term. Although China has substantial gas resources, exploiting the large unconventional reserves is technologically challenging. In 2013, the country imported nearly 30% of its gas requirement. We expect imports to increase as a share of total consumption in the medium term.
The new deal helps diversify the sources of China's natural gas imports, now mainly Turkmenistan and shipments of liquefied natural gas (LNG). It follows an agreement by CNPC in 2013 to take an equity stake in a Russian LNG project and buy gas from the project, which is controlled by Russia's OAO Novatek (BBB-/Stable).
While pricing for the Gazprom deal has yet to be announced, it appears from numbers reported in the media that the price will likely be at or above USD350 per thousand cubic metres (CNY2.2 per cubic meter), which is about 60% cheaper than China's current LNG imports and similar to the price for imports from central Asia. Although Fitch does not expect LNG imports to fall significantly because the use of natural gas in China is increasing, the agency believes the Gazprom deal will help reduce upward pressure on import prices in the medium term.
China has been and will continue to increase domestic gas selling prices that are controlled by the state, which should ensure profitability for operators like CNPC. For example, following gas price increases to-date, CNPC reported profits in its mid-stream gas operations in 4Q14 after losses during which high import costs sapped profitability.
For domestic gas producers, the Gazprom deal will provide incentive to further invest in natural gas exploration and production because the deal's expected price is higher than domestic production and as the authorities are expected to liberalise domestic natural gas pricing in the next couple of years. The indicative Gazprom deal price is at least 40% more than the current spot price for domestic gas, which ranges from CNY1 to CNY1.6 per cubic meter. Fitch believes the Gazprom deal is positive for CNPC, which holds over 60% of China's gas reserves and whose realised natural gas prices from its domestic productions in 2013 were around USD180 per thousand cubic metres.
CNPC will be responsible for building the pipelines and storage facilities in China under the deal. That the state has tasked CNPC to take on such important responsibility indicates that CNPC continues to play a strategic role in China's gas infrastructure, even though its subsidiary PetroChina said in May 2014 that it would eventually sell all of its stake in the First and the Second West-East Gas Pipeline to private investors.
To domestic city gas operators, especially in the north-eastern region, the deal soothes the concerns about gas supplies over the medium term. In Fitch's view, the agreement is positive for city gas operators such as China Resources Gas (BBB+/Stable), ENN Energy (BBB/Positive) and China Gas Holdings.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
Friday, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
|
|
|
Showing 246 to 250 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
|
| |
| |
|
