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Saturday, 11 July 15
MAJOR IRANIAN GAS EXPORTS WILL TAKE AT LEAST FIVE YEARS - FITCH
 Iran has the long-term potential to become one of the world's top gas producers, thanks to its 34 trillion cubic meters (tcm) of natural gas reserves, or around 18% of the world's total, Fitch Ratings says. But even if international sanctions on the country are lifted, it will take at least five years to ramp up production and build the pipelines necessary to become a large gas exporter. The higher cost and complexity of liquefied natural gas (LNG) projects means significant LNG exports would take a decade or longer to materialize.
From 2005 to 2014 Iranian gas production increased nearly 70% to around 173 billion cubic meters (bcm). The International Energy Agency (IEA) estimates that Iran currently exports only about 9 bcm to Turkey, Armenia and Azerbaijan. Historically, Iran has never been a major exporter of natural gas, with most of its limited exports going to the former USSR in the late 1970s.
Several significant gas projects in Iran are in different stages of implementation. Iran's share in estimated proven reserves of the giant South Pars gas field is about 14 tcm, while its current production capacity is only about 107 bcm. The IEA expects 67 bcm of additional capacity to be commissioned at South Pars before the end of this decade. Another major project is the North Pars field with estimated reserves of 1.3 tcm. In 2006, the China National Offshore Oil Corporation signed a USD16bn deal to develop North Pars and build a 20 million tons per annum LNG plant. We understand that because of the international sanctions these and other export-oriented projects are experiencing substantial delays as most foreign oil companies have stopped dealing with Iran.
In the meantime, Iran's gas consumption has increased dramatically, rising 66% between 2005 and 2014 to 170 bcm. This rate of growth has been second only to China and has made Iran the world's fourth biggest gas consumer behind the U.S., Russia and China. We therefore expect a significant part of the newly commissioned capacity over the next few years to continue serving the domestic market.
Iran is planning a number of gas export pipelines pending the removal of international sanctions. One example is IGAT-9, a 35 bcm per year pipeline that Iran plans to use to send gas from South Pars to Europe via Turkey. There are currently no transit pipelines in Turkey to deliver gas to the European markets. The only pipeline currently under construction there, the 16 bcm Trans-Anatolian Natural Gas Pipeline (TANAP) is scheduled for completion by 2019 and would bring 10 bcm of Azeri gas via Turkey and Greece to Italy via another yet-to-be-constructed Trans Adriatic Pipeline (TAP).
While it may be possible to increase the throughput of TANAP and TAP to accommodate Iranian gas by building one or several gas compression stations, we estimate that such construction as well as gas production ramp-up in Iran could take several years. Therefore, Iran could become a large gas exporter by the end of this decade at the earliest. Developing LNG capabilities is more costly and would probably take longer, and we do not expect Iran to export large volumes of LNG before mid-2020s.
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Friday, 17 July 15
DO CANCELLATION RIGHTS UNDER VOYAGE CHARTERPARTY SURVIVE RE-NOMINATION OF LOAD PORT? - INCE&CO
KNOWLEDGE TO ELEVATE
Do cancellation rights under voyage charterparty survive re-nomination of load port?
St Shipping & Transport Inc ...
Thursday, 16 July 15
INDONESIA'S HBA HITS ALL-TIME LOW OF $59.16 PER METRIC TON IN JULY 2015
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.16 pe ...
Thursday, 16 July 15
FOB RICHARDS BAY COAL SWAPS DECLINE W-O-W, M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Wednesday, 15 July 15
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
The last few weeks have been rather strenuous for Greece and China, each for their own reasons, affecting most markets around the world. In Greece ...
Wednesday, 15 July 15
IRAN OIL RECOVERY TO TAKE YEARS, BUT COULD START IN 2016 - FITCH
Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak, Fitch Ratings says.
The ...
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- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Planning Commission, India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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