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Saturday, 11 July 15
MAJOR IRANIAN GAS EXPORTS WILL TAKE AT LEAST FIVE YEARS - FITCH
 Iran has the long-term potential to become one of the world's top gas producers, thanks to its 34 trillion cubic meters (tcm) of natural gas reserves, or around 18% of the world's total, Fitch Ratings says. But even if international sanctions on the country are lifted, it will take at least five years to ramp up production and build the pipelines necessary to become a large gas exporter. The higher cost and complexity of liquefied natural gas (LNG) projects means significant LNG exports would take a decade or longer to materialize.
From 2005 to 2014 Iranian gas production increased nearly 70% to around 173 billion cubic meters (bcm). The International Energy Agency (IEA) estimates that Iran currently exports only about 9 bcm to Turkey, Armenia and Azerbaijan. Historically, Iran has never been a major exporter of natural gas, with most of its limited exports going to the former USSR in the late 1970s.
Several significant gas projects in Iran are in different stages of implementation. Iran's share in estimated proven reserves of the giant South Pars gas field is about 14 tcm, while its current production capacity is only about 107 bcm. The IEA expects 67 bcm of additional capacity to be commissioned at South Pars before the end of this decade. Another major project is the North Pars field with estimated reserves of 1.3 tcm. In 2006, the China National Offshore Oil Corporation signed a USD16bn deal to develop North Pars and build a 20 million tons per annum LNG plant. We understand that because of the international sanctions these and other export-oriented projects are experiencing substantial delays as most foreign oil companies have stopped dealing with Iran.
In the meantime, Iran's gas consumption has increased dramatically, rising 66% between 2005 and 2014 to 170 bcm. This rate of growth has been second only to China and has made Iran the world's fourth biggest gas consumer behind the U.S., Russia and China. We therefore expect a significant part of the newly commissioned capacity over the next few years to continue serving the domestic market.
Iran is planning a number of gas export pipelines pending the removal of international sanctions. One example is IGAT-9, a 35 bcm per year pipeline that Iran plans to use to send gas from South Pars to Europe via Turkey. There are currently no transit pipelines in Turkey to deliver gas to the European markets. The only pipeline currently under construction there, the 16 bcm Trans-Anatolian Natural Gas Pipeline (TANAP) is scheduled for completion by 2019 and would bring 10 bcm of Azeri gas via Turkey and Greece to Italy via another yet-to-be-constructed Trans Adriatic Pipeline (TAP).
While it may be possible to increase the throughput of TANAP and TAP to accommodate Iranian gas by building one or several gas compression stations, we estimate that such construction as well as gas production ramp-up in Iran could take several years. Therefore, Iran could become a large gas exporter by the end of this decade at the earliest. Developing LNG capabilities is more costly and would probably take longer, and we do not expect Iran to export large volumes of LNG before mid-2020s.
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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Videocon Industries ltd - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- The University of Queensland
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Minerals Council of Australia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- The Treasury - Australian Government
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