We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
 Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A+/Stable) underscores CNPC's strategic role in the country's gas pipeline infrastructure and helps China to secure adequate gas supply over the medium term, especially for the north-eastern part of the country.
Under the deal, Gazprom will supply 38 billion cubic metres (bcm) of gas a year starting around 2018 at a price that sets a new benchmark for what China is willing to pay for natural gas over longer term contracts.
The agreement also demonstrates China's determination to switch to cleaner energy. China used around 168bcm of natural gas in 2013 and aims to use over 400bcm in 2020. The import agreement will meet close to 10% of China's consumption of natural gas in the medium term. Although China has substantial gas resources, exploiting the large unconventional reserves is technologically challenging. In 2013, the country imported nearly 30% of its gas requirement. We expect imports to increase as a share of total consumption in the medium term.
The new deal helps diversify the sources of China's natural gas imports, now mainly Turkmenistan and shipments of liquefied natural gas (LNG). It follows an agreement by CNPC in 2013 to take an equity stake in a Russian LNG project and buy gas from the project, which is controlled by Russia's OAO Novatek (BBB-/Stable).
While pricing for the Gazprom deal has yet to be announced, it appears from numbers reported in the media that the price will likely be at or above USD350 per thousand cubic metres (CNY2.2 per cubic meter), which is about 60% cheaper than China's current LNG imports and similar to the price for imports from central Asia. Although Fitch does not expect LNG imports to fall significantly because the use of natural gas in China is increasing, the agency believes the Gazprom deal will help reduce upward pressure on import prices in the medium term.
China has been and will continue to increase domestic gas selling prices that are controlled by the state, which should ensure profitability for operators like CNPC. For example, following gas price increases to-date, CNPC reported profits in its mid-stream gas operations in 4Q14 after losses during which high import costs sapped profitability.
For domestic gas producers, the Gazprom deal will provide incentive to further invest in natural gas exploration and production because the deal's expected price is higher than domestic production and as the authorities are expected to liberalise domestic natural gas pricing in the next couple of years. The indicative Gazprom deal price is at least 40% more than the current spot price for domestic gas, which ranges from CNY1 to CNY1.6 per cubic meter. Fitch believes the Gazprom deal is positive for CNPC, which holds over 60% of China's gas reserves and whose realised natural gas prices from its domestic productions in 2013 were around USD180 per thousand cubic metres.
CNPC will be responsible for building the pipelines and storage facilities in China under the deal. That the state has tasked CNPC to take on such important responsibility indicates that CNPC continues to play a strategic role in China's gas infrastructure, even though its subsidiary PetroChina said in May 2014 that it would eventually sell all of its stake in the First and the Second West-East Gas Pipeline to private investors.
To domestic city gas operators, especially in the north-eastern region, the deal soothes the concerns about gas supplies over the medium term. In Fitch's view, the agreement is positive for city gas operators such as China Resources Gas (BBB+/Stable), ENN Energy (BBB/Positive) and China Gas Holdings.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 05 May 14
SUB BIT-FOB INDONESIA COAL SWAPS LOST GROUND LAST WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports ...
Monday, 05 May 14
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q3 14 DELIVERIES: LOST 0.82% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 0.82 percent month on month and closed at US$ 75.20 per mt as o ...
Sunday, 04 May 14
INDONESIA TO INDIA FREIGHT RATES ARE SHOWING POSITIVE TREND
COALspot.com: The freight market is seems to be some recovery as cape index has increased by 7.84 pct week on week. Cape index closed at 1829 po ...
Friday, 02 May 14
ADARO ENERGY STARTS YEAR 2014 WELL DESPITE CURRENT MARKET CONDITIONS
COALspot.com: Adaro Energy, the second largest Indonesian coal miner's revenue increased 14% to US$ 845 million due to higher sales volume, ...
Friday, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
|
|
|
Showing 3721 to 3725 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- The University of Queensland
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
|
| |
| |
|
