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.
|
|
Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
Monday, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
|
|
|
Showing 3676 to 3680 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
|
| |
| |
|
