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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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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
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