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Qatar Gets Flexible In Bid To Adapt To Brave New LNG World
...uto 2012 4.3 Woodside Curtis Island - T1 2014 4.3 BG/CN...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Qatar Readies For LNG Dogfight With Rasgas/Qatargas Merger
...clear accident sent Japan’s LNG imports to record levels) until the late-2014 collapse in oil prices. Typical LNG sales contracts are heavily oil-linked, though this linkage is eroding (see p7). But flagging demand and some LNG global supply growth since 2014 has weighed on prices, and reduced sellers’ ma...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
Eni Forces Sonatrach Gas Sales Concessions
...2014 when it agreed to include spot market gas prices rather than oil indexation in contracts with the Italian company. This took place in the context of changing patterns in the European market, caused by increased liquidity and competition and reduced demand following the 2008 financial crisis. Eu...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
Sonatrach ‘In Talks’ For Gas-Based Petchems
...tput often ends up doing little more than making up for declines at the country’s aging workhorse fields – the IEA’s latest WEO pegs Algeria’s 2020 gas output at 84bcm/year, up only marginally on 2014’s 83bcm. First among these aging fields is Hassi R’Mel, where the award to JGC is just the latest in...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
US Hikes 2017 Output Forecast As Firms Prepare To Raise Spending
...ude, having risen above 9mn b/d for the first time in 28 years in September 2014, fell back below this level in April this year on the back of a more than halving in oil prices. While the 9.63mn b/d April 2015 peak is set to stand for some time yet, by the same token it looks increasingly likely th...
Volume: 59Issue: 49Published at Fri, 09 Dec 2016 -
Traders Clean Up In Egypt LNG Import Tender
...lk of those with 25 (see table). Netherlands based Trafigura will supply 18 cargoes while BB Energy, Gunvor and Vitol will supply the rest. Egypt’s first LNG supply deal was signed with Algeria’s state gas firm Sonatrach in December 2014 (MEES, 27 February 2015) for the supply of six cargoes wh...
Volume: 59Issue: 48Published at Fri, 02 Dec 2016 -
Suez Canal Sees Record Northbound Oil Shipments
...tal cargo shipped is up 9%. SUEZ CANAL MONTHLY REVENUE ($MN): DOWN 8% ON 2014 DESPITE LAST YEAR’S EXPANSION SOURCE: SUEZ CANAL AUTHORITY. NORTHBOUND OIL SHIPMENTS SOAR The key area where the Suez Canal has seen transit volumes rise has been in northbound oil shipments. Saudi Ar...
Volume: 59Issue: 47Published at Fri, 25 Nov 2016 -
Taiwan’s LNG Imports Boosted As Government Plans To Exit Nuclear
...elled power generation. One 600MW reactor at Chinshan has been out of action since the end of 2014 due to technical problems. But the government’s anti-nuclear policy means it is unlikely to come back online with the plant approaching the end of its life in 2018. Technical issues also led to the cl...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
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...
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