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.
|
|
Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
|
|
|
Showing 251 to 255 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
|
| |
| |
|
