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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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Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
Thursday, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
Once again, the already long list of tariffed goods has been made even longer. Many more commodities were hit on 23 August, but September is likely ...
Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Introduction
A recent English Court of Appeal decision provides important guidance on the applicability of charterpar ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
...
Wednesday, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
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Showing 1621 to 1625 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
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