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LNG: Asian Buying Rises, But Output Up By More
...stralian output means any support to prices will likely prove transient. Imports by top global importer Japan, at 62.0mn tons in the first nine months of 2016, are down 2.2mn tons (3.4%) on the same period a year earlier and by 4.4mn tons on 2014’s record volumes. But for China 2016 is set to be a re...
Volume: 59Issue: 44Published at Fri, 04 Nov 2016 -
Korea LNG Buying Falls To Seven-Year Low In Q3
...lumes are down by a more modest 1.3% on January-September 2015, but 12% down on 2014’s record levels of 27.20mn tons. • Low Q2 and Q3 buying came after a mild 2015-16 winter left stocks unusually high. However a late-summer heatwave in August led to a surge in aircon use, diminishing stocks. This ha...
Volume: 59Issue: 42Published at Fri, 21 Oct 2016 -
UAE Goes LNG Import Crazy: Sharjah Follows Dubai And Abu Dhabi
...though it is unclear whether this will continue following last week’s deal. Gas-to-power demand in the northern Emirates has been growing at a rapid pace. Power consumption increased by 80% since 2004, hitting 20.4TWh in 2014, 18% of the UAE’s total. Sewa and the Federal Water and Electricity Au...
Volume: 59Issue: 41Published at Fri, 14 Oct 2016 -
Abu Dhabi: Has It A Future As An LNG Exporter?
...Tepco reducing its offtake from Adgas to minimum contracted levels, as it has new supply sources at its disposal. Tepco has been taking new volumes from ExxonMobil’s Papua New Guinea LNG project that started in 2014, and has signed up to a number of Australian projects scheduled to start from next ye...
Published at Fri, 30 Sep 2016 -
Abu Dhabi: Has It A Future As An LNG Exporter?
...Tepco reducing its offtake from Adgas to minimum contracted levels, as it has new supply sources at its disposal. Tepco has been taking new volumes from ExxonMobil’s Papua New Guinea LNG project that started in 2014, and has signed up to a number of Australian projects scheduled to start from next ye...
Volume: 59Issue: 39Published at Fri, 30 Sep 2016 -
South Sudan Crude Output Plumbs New Lows
...0,000 b/d in September amid ongoing political uncertainty and insecurity. Output, which was running at 350,000 b/d at independence in July 2011, averaged just 169,000 b/d in 2014 and 148,000 b/d in 2015. It has fallen further since the start of 2016 with the latest figures a fresh drop from 117,000 b/d in...
Volume: 59Issue: 38Published at Fri, 23 Sep 2016 -
Falling Gas Prices Give Iran Dose of Realism
....93mn cfd) for 2014-15. Managing Director of Pars Oil and Gas Company (POGC) Ali Akbar Shabanpour said in June that output had risen to 431mn m³/d (15.2bn cfd, 157 bcm/year) and that it is planned to hit 526mn m³/d (191 bcm/y) by the end of the current Iranian year (March 2017). Averaging June ou...
Volume: 59Issue: 37Published at Fri, 16 Sep 2016 -
Algeria: Crude Exports Down But Piped Gas Exports Soar
...rhaps due to the inclusion in the Sonatrach stats of condensate processing units – both figures are up, and up by a similar amount. The first half refinery throughput average suggests that Algeria is on track to match or even beat its annual throughput record, which was also 593,000 b/d and set in 2014...
Volume: 59Issue: 36Published at Fri, 09 Sep 2016 -
Aussie LNG Boom Squeezes Qatar In Core Asian Markets Amid Lackluster Demand
...ar (from around 5% last year) and against around 5% for Qatar. The growth in Chinese LNG imports slowed down over the past couple of years, settling at around 19.60mn tons in 2015, following the dramatic increases in recent years and compared with 19.85mn tons in 2014. Qatari sales to China, at 2....
Volume: 59Issue: 31Published at Fri, 05 Aug 2016 -
Qatar LNG: More Sales To Europe But Flexibility The Key
...tight supply, such as following Japan’s Fukushima nuclear disaster in 2011, they have been able to divert cargoes from Europe to higher-priced markets in Asia. But since 2014 less Qatari LNG has been redirected to Asia due to slow demand growth and increased supplies including from Papua New Gu...
Volume: 59Issue: 28Published at Fri, 15 Jul 2016 -
Iran Hits The Med As Market Share Battle With Saudi Intensifies
...e it left. The country’s crude imports declined 25% between 2011 and 2014, though 2014 volumes of 1.08mn b/d rebounded somewhat to 1.25mn b/d last year on the back of improved refining margins. Run rates at Italy’s refineries rose 11% from 71.6mn tons in 2014 to 79.1mn tons last year. But as margins ha...
Volume: 59Issue: 26Published at Fri, 01 Jul 2016 -
LNG Supply Glut To Depress Prices For Years To Come
...Global LNG export capacity rose by 45% between 2011 and 2015 with 90% of this coming from the US and Australia. The “massive expansion” of Australian and latterly US export capacity, particularly since 2014 “just as demand slows” means “global gas prices are set to stay under pressure” for th...
Volume: 59Issue: 24Published at Fri, 17 Jun 2016 -
Algerian Gas Exports Face Rollercoaster Ride In Core Italian Market
...liveries into Italy during 2013 and 2014 due to weaker demand, by maintaining the same oil-indexed gas price formula, this deal ended in December 2015. This was replaced by another agreement with Eni which this time also involved price formula changes, as well as volume reductions. Sonatrach was long re...
Volume: 59Issue: 22Published at Fri, 03 Jun 2016 -
Japanese LNG Imports, January-April 2016: Australia Consolidates Top Spot As Qatar Takings Collapse
...PORTS FROM QATAR FELL TO JUST $242MN IN APRIL, LESS THAN A SIXTH OF JANUARY 2014’S RECORD FIGURE ($MN/MONTH)...
Volume: 59Issue: 22Published at Fri, 03 Jun 2016 -
Algeria Plans For Lower Revenue By Slashing Upstream Investment
...vestment to $73bn (officially “more than $73bn”) for 2016-20, down from $90bn for 2015-19, which in itself was down from its $100bn 2014-18 plans (MEES, 11 July 2014). While Sonatrach managed to spin last year’s cuts as a maintenance of its investment plans combined with a stronger dollar and falling co...
Volume: 59Issue: 21Published at Fri, 27 May 2016 -
Saudi Products Records Tumble With Europe The Target Market
...fineries since 2014 – both now running at full capacity – and crude output remaining at near-record highs of over 10.2mn b/d, records for the country’s products output and exports continue to tumble. Crude throughputs at the country’s refineries hit a record 2.571mn b/d in the first quarter, with 2....
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
Suez Canal Oil Data (‘000 B/D)
...NORTHERN OIL SHIPMEMTS HAVE DOUBLED SINCE 2011 TO AVERAGE 2MN B/D SINCE 2Q 2014... ...WITH SEASONAL RECORDS SET FOR EACH OF THE LAST THREE QUARTERS (MN B/D) NORTHBOUND PRODUCTS SHIPMENTS, DIESEL IN PARTICULAR, HAVE LED THE WAY. 1.2MN B/D OF SAUDI AND UAE RE...
Volume: 59Issue: 20Published at Fri, 20 May 2016 -
The UAE Gears Up For Second FSRU As Fujairah Terminal Looks Uncertain
...mestic gas production has failed to keep pace with local demand, the UAE has been forced to plug the gap with pipeline imports from Qatar via the Dolphin pipeline. Imports through the link were recorded at 18 bcm in 2014, while production stood at 57.8 bcm and consumption at 69.3 bcm. But the supply gap is...
Volume: 59Issue: 18Published at Fri, 06 May 2016 -
Kuwait Seeks More LNG, Strives To Hike Domestic Gas Output
...Already the MENA region’s top LNG importer, Kuwait is powering ahead with plans to secure extra supplies to meet growing gas to power demand as it looks to capitalize on slumping prices. Prices have fallen by approximately $8/mn BTU to around $4/mn BTU since 2014 according to Kuwait Pe...
Volume: 59Issue: 15Published at Fri, 15 Apr 2016 -
Mid-East LNG Demand‘A Driving Force’ In 2015
...4% to 105mn tons in 2015, a 43% global share down from 47% as recently as 2013 (see table). Output from dominant producer Qatar – which alone provides 32% of global supplies, steady with 2014 – edged up to a record 78.4mn tons in 2015. But Australia is set to challenge Qatar for top spot over the ye...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016