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Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
 Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an extended period of oversupply. Things haven’t played out quite like that, and prices have staged a strong recovery.
The market may not be out of the woods yet, as supply builds up next year potentially putting some downward pressure on prices. But the outlook beyond is bullish, with 65 mmtpa of new supply needed to meet growing demand by 2025 – that’s 20 mmtpa more than we forecast a year ago.
How have things turned round so quickly?
Demand has been firmer. Low prices drew buyers into the market after Asian LNG prices fell 75% from the 2013 peak of US$17/mmbtu to US$4/mmbtu by 2016. China began a buying spree that hasn’t stopped, spurred by the Government’s initiative to improve air quality in its cities. The Paris Agreement of 2015 has hardened energy policy – European governments are accelerating a shift away from coal to the benefit of renewables as well as gas. A new and diverse breed of countries has joined the traditional LNG buyers, among them Pakistan, Bangladesh, Colombia, Jamaica and Panama. LNG has gone global in the downturn.
Europe emerges as key growth target for LNG suppliers
Delayed production startup at some new LNG projects has also diminished the feared oversupply. Future gas supply in Europe will be structurally reduced by the decline of Groningen. The Dutch field, a pillar of continental supply for over 50 years, is beset by earthquakes. Volumes will be cut to minimal levels in the early 2020s and cease in 2030. With Russian pipelines maxed out, even with modest demand growth Europe has emerged as a key growth target for LNG suppliers. The loss of Groningen alone accounts for half of the 20 mmtpa increase in our forecast 2025 supply gap.
As global LNG players gather in Barcelona for the big Gastech Conference September 17-20, things look brighter. Yet major challenges lie ahead for the industry, these three among them.
1. Bringing competitive new supply to market
Projects are jockeying for position including Mozambique Areas 1 (Anadarko) and 4 (Eni/ExxonMobil), Arctic LNG 2 (NOVATEK/Total), LNG Canada (Shell/Petronas), Qatar expansions (Qatargas) and a plethora of US sites. 2019 may be the biggest year ever for LNG project sanctions; 100 mmtpa of new capacity could reach FID in the next three years.
Project delivery and managing spend of up to US$200bn will be big tests following the difficulties of the last cycle. And with buyers unwilling to commit to long term contracts for all their needs, sellers have to take on more risk. The ‘new economics’ of LNG projects favours big, financially strong players – large resource holders, major portfolio players and, possibly, traders.
2. The inexorable rise of US supply democratising the LNG market
A fringe player a few years ago, US LNG will vie with Qatar to be the world’s biggest supplier by the mid-2020s. Cheap Permian and Marcellus gas create a competitive advantage versus many conventional projects. Some LNG contracts are already marketed as distinctly Henry Hub, influencing oil-linked LNG pricing. In time a quarter of all cargoes on the high seas will be Henry Hub-derived, FOB with no destination clauses. This will dramatically increase liquidity in LNG trading and the effect on global LNG pricing will be profound.
Gas hubs in the US and Europe have evolved over the decades to accommodate gas/oil competition and arbitrage between spark spreads and dark spreads. So too will Henry Hub be duly absorbed into the global pricing mix in European hubs and Asia. A global LNG marker price will emerge with Henry Hub a key determinant.
3. The need for sustained gas advocacy
Gas is presently winning market share from coal. But intensifying policy on energy efficiency, methane and carbon emissions, the growth of renewables, development of battery storage and new energy technologies all pose a threat. Gas cannot rest on its laurels as a bridging fuel for the energy transition. The industry needs to keep pressing the case for gas as the low carbon intensity option, and continue to build new markets by ensuring security of supply at a competitive cost.
Source: Wood Mackenzie
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Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
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Showing 1611 to 1615 news of total 6871 |
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- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
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