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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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Monday, 13 July 15
THE DRY BULK MARKET CLOSED ON A POSITIVE TONE THIS PAST WEEK
COALspot.com: Despite Greece crisis and turmoil in the stock market across the world , the freight market overall was firm and up in all segments t ...
Sunday, 12 July 15
SHIPYARD NOT LIABLE FOR ENGINE ROOM FIRE CAUSED BY OIL LEAKAGE - BIRCH WINDAHL
KNOWLEDGE TO ELEVATE
A Danish vessel owner requested a Danish shipyard to undertake repairs and maintenance works on its vessel. An agreement ...
Friday, 10 July 15
DRY BULK MARKET KEEPS POSITIVE MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its positive momentum over the course of the past few days, thanks to Panamax gains. During yesterday’s session ...
Friday, 10 July 15
U.S PRODUCED APPROXIMATELY TOTALED AN ESTIMATED 14.1 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 14.1 million short ...
Thursday, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
Despite the traditionally quieter summer period, the clean tanker market has so far experienced healthy activity especially East of Suez. Increased ...
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- Australian Coal Association
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Planning Commission, India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
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