Suez Canal September revenue Dips Following Record august

...ns) all reaching new highs. ·       Southbound shipments of fuel oil rose in September to hit a record 3.3mn tons after reaching 2.8mn tons in August.   Suez Canal Traffic, 3Q 2014 (‘000t)   Sep-14 Aug-14 Ju...

Saudi Products Imports Slump

...nture Satorp refinery ramped up towards full capacity – which it is expected to reach by year end. Gasoline imports fell from 23,000 b/d in January-August 2013 to zero for the first eight months of 2014; gasoil volumes fell to a mere 4,000 b/d. The 400,000 b/d Aramco/Sinopec Yasref refinery at Yanbu on...

New Japan LNG Exchange May Prove Disruptive In Key Qatari Market

...45 9.18 6.24 6.85 9.45 10.26 10.60 Source: IEA Natural Gas Information 2014. Widening Premium: Average Japan Vs Eu Lng Import Prices ($/Mn Btu)...

The US Shale Gas Revolution: A Threat To Gulf LPG Exporters

...r 2014 and 2015 will see US LPG exports to Japan increase. Korean firms are negotiating contracts to import LPG as well. Threat To Pricing The basis of US LPG prices differs entirely with that of Gulf LPG exports, a dynamic that will put pressure on margins of Gulf sales into Asia. Saudi Ar...

Suez Canal No2 Planned

...r both 2012 and 2013 and $2.63bn for the first six months of 2014 (MEES, 25 July), around 8% of total government revenue. Egypt hopes that the expansion plans will dramatically increase revenues: by 2023 the expanded route could bring in around $13.5bn, a Suez Canal authority official tells Re...

Suez Canal Traffic, 2Q 2014 (‘000t)

Will Fujairah Get With The LNG Bunkering Trend?

...G bunkering demand scales up: at this stage, it is only capable of ship-to-ship LNG transfers. On The Rails? LNG is also looking like an increasingly viable option for long-haul road and rail transport. The US Energy Information Agency (EIA) predicts in its 2014 Annual Energy Outlook that LN...

QNB Optimistic LNG Market Will Continue To Favor Qatar

...me Cap (mn t/y) Company (-ies) Start Year Algeria Arzew - GL3Z (Gassi Touil) 4.7 Sonatrach 2014 P.N. Gu...

Cyprus: Eni Plans September Drilling, CNOOC Eyes Aphrodite Stake

...orouk Offshore, awarded last year (MEES, 19 April 2013). Total last year completed a 3D seismic survey on Block 11 and kicked off a 2D survey on Block 10 in February 2014. Cyprus Offshore Blocks...

IEA Sees $735Bn Investment In Evolving LNG Market Through 2035

...oject anywhere in the world which cannot pass this test needs to be reexamined or postponed.” Market Outlook The gas market will see gradual changes through 2035, as high costs will make some projects unviable from investor, as well as buyer perspective. The IEA’s Medium-Term Gas Market Report 2014...

RasGas Breaks With Oil Link In E.ON LNG Deal

...targas-4 (Train 7) – a JV between QP (70%) and Shell (30%) – signed a five-year sales and purchasing agreement (SPA) for Qatargas to supply 1.5mn t/y of LNG to Gasunie and Vopak’s Gate LNG terminal in Rotterdam from January 2014 (MEES, 18 October 2013). Like the RasGas deal, the contract allows for fl...

Jordan Shortlists Amman Products Terminal Bidders

...rnkey basis during 2014-15 under an engineering, procurement, construction and commissioning (EPCC) contract. The terminal will store 250,000-300,000 tons of white products (gasoline, kerosene, jet fuel and diesel) and 8,000 tons of LPG. It will be built to the east of the capital and will include road ta...

Qatar LNG For Kuwait

...QATAR Qatar LNG For Kuwait Following two years of negotiations, Kuwait Petroleum Corporation (KPC) has finally concluded an agreement to import LNG from Qatargas, though this initial agreement does not extend beyond 2014 – leaving some degree of supply uncertainty over the medium term fo...

MEES Interview: Former IEA Chief Nobuo Tanaka On Japan, Qatar and LNG Markets

...r the Advancement of Producer-Consumer Dialogue at the 2014 Abdullah bin Hamad al-Attiyah Energy Awards held in Doha on 8 April.   MEES: How do you see the nuclear power sector in Japan going forward and the role of LNG in the supply mix? Tanaka: It’s a very important, difficult qu...

International Gas Union Sees Changing LNG Market After 2014

...INTERNATIONAL International Gas Union Sees Changing LNG Market After 2014 The Norway-based International Gas Union (IGU) sees continued LNG supply constraints ahead this year, during which time Qatar will remain the world’s top supplier of the super cooled gas. The global LNG ma...

Mideast Gas May Move To Europe If Russia Cuts Supply

...rtfolio. “On volume, we reached a significant reduction in our Algerian contract. This has allowed us not only to avoid further take-or-pay, but even to recover 3.5 bcm of makeup gas,” Mr Alvera says. Eni’s deal with Sonatrach to cut drastically its Algerian gas volumes lasts until October 2014, Mr Al...

Kuwait LNG Plans Advance

...rk with a local partner and expects to complete its work in October 2014. Foster Wheeler previously completed a feasibility study for the terminal and helped KNPC select technology for the project and choose the terminal’s location. KNPC plans to commence LNG imports at the terminal in 2020, su...

Qatar Faces Threat From US Shale – IMF

...portantly on the ability to rapidly hire expatriate workers,” the IMF says. Real GDP growth is projected to stay around 6% in 2014, as the pickup in the public investment program is roughly offset by a modest decline in hydrocarbon output, the IMF says. Public investment is expected to keep growth ro...

Jordan Advances Gas Strategy With Shell LNG Supply Deal

...olence in Iraq’s Anbar province (see graph and MEES, 10 January 2014).   Planned Iraq-Jordan Crude & Gas Pipelines   Israeli Gas Challenge On a logistical level gas from neighboring Israel’s burgeoning offshore discoveries would be the easiest medium-to-long-term way to sate Jo...

Egypt Eyes Iraqi Gas

...mand (forecast at 5.57bn cfd for the 2014-15 financial year). Clearly much larger Iraqi imports would be needed to make a significant dent in Egypt’s looming gas shortage. In addition, whilst Iraq currently flares some 1.2bn cfd of gas, two thirds of wellhead output, Baghdad is looking to prioritizing a ma...