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Wednesday, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
 Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Ratings says.
Market expectations of oversupply and weak gas prices have curtailed new investment activity in the sector in the past two years. Limited capacity additions beyond 2020 should be positive for spot prices, especially in Asia and Europe. This will benefit LNG projects with significant uncontracted volumes and those linked to gas spot prices.
An unprecedented wave of new projects becoming operational in 2016-2019 has not resulted in, and is unlikely to result in a material surplus in the LNG market in the medium term. Additional LNG volumes continue to find a home across a diverse array of countries and new buyers, and under more flexible contracts.
Funding for new LNG capacity is often structured as non-recourse project finance and is dependent on sponsors’ ability to secure long-term offtake agreements, which buyers have been less willing to sign in anticipation of larger volumes of uncontracted LNG coming to the market. Therefore, sponsors may need to commit a higher equity contribution to get funding for LNG projects, which will continue to delay final investment decisions (FIDs) for some time. A typical timeframe for a new LNG project to become operational following the FID is four to five years. Due to limited new FIDs very few new projects will come on stream in the early 2020s. FIDs in the next one to two years are likely to be limited to projects with lower capital and operating costs given constraints on the funding side.
We expect gas demand to continue its robust growth in the coming years, mostly driven by Asian markets that account for two-thirds of overall LNG demand. This is due a combination of healthy power demand growth in the region, natural gas being the fossil fuel of choice in pursuit of curbing air pollution, and the backlash against nuclear energy. Japan is currently the largest LNG importer, but China is catching up quickly and becoming the major market for LNG.
The LNG market could shift into deficit by 2022-2025. Gas pricing is therefore likely to improve in the major importer markets, benefiting LNG projects relying on spot and hub pricing and entities with significant LNG trading portfolios. We also expect oil companies to gradually return to their earlier LNG ambitions. This includes oil majors, like Shell, BP and Total, most of which emphasise the growing role of gas in the global energy mix.
The LNG market is still in its formative stage. Pricing mechanisms, contract terms and financing structures continue to evolve. Long-term oil-linked contracts are giving way to increased trading activity, which represented around a quarter of all new contracts in 2017, according to IGU World Gas LNG Report, compared to just 1% in 2012. New large LNG projects still rely on long-term contracts in order to secure financing. However, elsewhere contracts are becoming shorter, and the quality of counterparties is declining. Contract prices are increasingly de-linked from oil pricing with a growing focus on spot and hub-based gas pricing.
Fitch-rated rated LNG projects will not be significantly affected by the trend towards increasing commoditisation. In the US, rated projects, such as Cameron LNG and Sabine Pass, benefit from robust contractual frameworks that provide mitigation to completion risks and often employ tolling or tolling-like arrangements that protect cash flows from volume and price risks. RasGas in Qatar mostly relies on long-term oil-linked contracts.
Source: Fitch Ratings
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Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
Friday, 03 August 18
HBA HAS RISEN 28.41 PER CENT IN A YEAR TO BE AT THEIR HIGHEST LEVELS SINCE JANUARY 2012
COALspot.com: The benchmark price of Indonesian thermal coal has risen 28.41 per cent in a year to be at their highest levels since January 2012.&n ...
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Showing 1651 to 1655 news of total 6871 |
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- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- The University of Queensland
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
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