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Qatar Gets Flexible In Bid To Adapt To Brave New LNG World
...apt to this new world LNG order. As of end-2015 Qatar was the world’s largest LNG producer with 77mn tons/year of liquefaction capacity. But it will be overtaken by Australia during 2017 and likely by the US early next decade (see table 1). Since 2005 it has had a moratorium on new development of...
Volume: 59Issue: 51/52Published at Fri, 23 Dec 2016 -
Eni Forces Sonatrach Gas Sales Concessions
...eakeven on our Gas and Power business, as we promised in 2017,” he adds. The renegotiated agreement covers almost 20% of the gas imported into Italy and is another step in Eni’s adjustment of its long-term gas supply contracts and optimizing costs in its gas and power unit, the company says. The deal fo...
Volume: 59Issue: 50Published at Fri, 16 Dec 2016 -
US Hikes 2017 Output Forecast As Firms Prepare To Raise Spending
...tlook for 2017 US crude output was looking bleak midway through 2016 as oil majors and oilfield services firms cut back on spending. But with oil prices now above the $50/B mark, the EIA has raised its forecasts for next year’s output. The US government agency’s latest Short Term Energy Outlook, re...
Volume: 59Issue: 49Published at Fri, 09 Dec 2016 -
Traders Clean Up In Egypt LNG Import Tender
...is is almost 25% higher than the latest spot purchase price – $6.10/mn BTU for November – paid by leading global buyer Japan (MEES, 11 November). MEES understands that Q1 2017 cargoes have been awarded at a slope of 14-15% to Brent and 12% over the remaining cargoes. FSRU DELAY Oil Mi...
Volume: 59Issue: 48Published at Fri, 02 Dec 2016 -
Taiwan’s LNG Imports Boosted As Government Plans To Exit Nuclear
...G 6.9mn tons/year plant since its 2014 start-up under a 20-year contract for 1.2mn t/y. The company has also committed to buy 1.75mn t/y under a 15-year contract from the 8.4mn t/y Ichthys LNG in Western Australia which is scheduled to come onstream in 2017. It will also be receiving volumes fr...
Volume: 59Issue: 46Published at Fri, 18 Nov 2016 -
GE Takeover Of Baker Hughes To Create Services #2
...ergy, water, aviation and digital sectors. By 2017 GE and SAIIC plan to spend $1bn on projects with Saudi and international firms in support of the Saudi Vision 2030 economic diversification program (MEES, 27 May). GE/BAKER HUGHES TO LEAPFROG HALLIBURTON AS GLOBAL SERVICES #2 ($BN Q1-3 16 RE...
Volume: 59Issue: 45Published at Fri, 11 Nov 2016 -
LNG: Asian Buying Rises, But Output Up By More
...cargoes over a four-year period from April 2017. ASIAN 2016 LNG IMPORTS SET TO EDGE ABOVE 2015 VOLUMES ON UPTICK IN LATE-YEAR BUYING (MN TONS) F= 2016 FORECAST BASED ON JAN-SEP VOLUMES AND 2015 SEASONALITY. *ESTIMATES FOR TAIWAN, INDIA. BASED ON JAN-AUG VOLUMES. SOURCE: IM...
Volume: 59Issue: 44Published at Fri, 04 Nov 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 -
KRG Struggling To Make IOC Payments As Prepayments Dry Up
...s committed to. Production is expected to average around 5,000 b/d in the second half of the year. The Sarqala-2 well will provide an output boost, but won’t be spudded until H1 2017. There has been no update on Western Zagros’ other Kurdistan asset, the Repsol-operated Kurdamir block. A field de...
Volume: 59Issue: 32Published at Fri, 12 Aug 2016 -
Aussie LNG Boom Squeezes Qatar In Core Asian Markets Amid Lackluster Demand
...stomers is also set to be completed by the end of 2017. Similarly, Qatar has strengthened ties with Pakistan through a 15-year deal for the supply of 3.75mn t/y of LNG. This was recently topped up with a 1.3mn t/y deal with GEIL for a 20-year period from 2018 (MEES, 15 July). The deals are un...
Volume: 59Issue: 31Published at Fri, 05 Aug 2016 -
Panama Expansion Puts East Asia In Reach Of Nascent US LNG Exports
...G cargo in February with the start-up of shipments from the first two 4.5mn tons/year trains at the Sabine Pass facility in Louisiana. And volumes from the US Gulf will soon become a flood, with over 14mn t/y more capacity (equivalent to 19bcm/year or 1.8bn cfd of gas) set to start up in 2017 to be fo...
Volume: 59Issue: 27Published at Fri, 08 Jul 2016 -
LNG Supply Glut To Depress Prices For Years To Come
...kely price recovery. The IEA forecasts the US gas production will “remain relatively flat across 2015 and 2017,” with the fact “that it did not decline meaningfully in 2015 despite low oil and gas prices evidence of the remarkable technology and financial resilience of the US gas industry.” Po...
Volume: 59Issue: 24Published at Fri, 17 Jun 2016 -
Mid-East LNG Demand‘A Driving Force’ In 2015
...lution. Whether this is realistic remains to be seen. Egypt hopes to call time on gas imports by 2020 following last year’s discovery of the 23 tcf Zohr offshore field – operator Eni plans first gas from late 2017, ramping up to 2.7bn cfd by 2019 (MEES, 25 March). But while this is substantially more th...
Volume: 59Issue: 14Published at Fri, 08 Apr 2016 -
India Presses Buyers’ Advantage In Oversupplied LNG Market
...though there is probably more potential upside than downside to the forecasts given the expectation that these low prices will persist. We forecast another 2.4mn tons (15%) increase year-on-year of gas imports in 2017,” they say. The successful renegotiation with RasGas has now set a precedent and gi...
Volume: 59Issue: 11Published at Fri, 18 Mar 2016 -
Algeria Boosts Its Share In Spain’s Gas Imports In 2015
...taling 2.67mn t/y, with Iberdrola, Endesa and Cepsa. The 0.75mn t/y contract with Iberdrola is expected to expire in 2017, with the other two set to end in 2022. SKIKDA STILL OUT Algeria’s 4.5mn t/y Skikda LNG complex remains out of action for maintenance, according to reports. The mega train was ru...
Volume: 59Issue: 08Published at Fri, 26 Feb 2016 -
Iran Eyes Growing Gas Shipments To Armenia, Turkey
...end $120mn on a new 400kV Armenia-Iran power transmission line. This would increase capacity from around 300MW to 1GW by 2018. Armenia’s Deputy Energy and Natural Resources Minister Hayk Harutyunyan said in October that he hoped the volume of Iranian gas imports would increase in 2017. Davood Manzoor, Vi...
Volume: 59Issue: 06Published at Fri, 12 Feb 2016 -
East Asian Importers Take Less LNG In 2015; Little Sign Of An Upturn In 2016
...uthwestern Japan (MEES, 30 October 2015). “We forecast Japanese LNG imports will be down by another 2.4mn tons in 2016 and by 2.2mn tons in 2017, driven largely by impacts from nuclear plant availability,” analysts at London-based Energy Aspects say in a recent note. GRAPH 1: ASIA’S THREE LARGEST LNG IM...
Volume: 59Issue: 05Published at Fri, 05 Feb 2016 -
South Korean LNG Appetite Thins Out, Prices Remain Under Pressure
...sult of the nuclear expansion (as well as coal and to a lesser extent renewables), analysts from London-based Energy Aspects expect LNG imports to fall by 2.3mn tons (7%) this year and by a further 1.9mn tons (6%) for 2017. Not only was last winter milder than normal in northeast Asia, increased LN...
Volume: 59Issue: 03Published at Fri, 22 Jan 2016