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.
|
|
Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
|
|
|
Showing 3636 to 3640 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Aditya Birla Group - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
|
| |
| |
|
