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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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Thursday, 09 July 15
LACK OF FRESH BUSINESS IN THE PACIFIC LEFT CAPESIZE RATES MOVING SIDEWAYS - INTERMODAL
COALspot.com: Intermodal ship broker says in its weekly report that, a different picture from what we saw the previous week was painted during the ...
Wednesday, 08 July 15
RIO TINTO'S MODERNISED KITIMAT SMELTER BEGINS PRODUCTION; KITIMAT BECOMING ONE OF THE LOWEST COST SMELTERS IN THE WORLD
COALspot.com: Rio Tinto is preparing its first shipments of metal from its world-class Kitimat aluminium smelter in Canada following an extensive m ...
Wednesday, 08 July 15
Q3'15 INDONESIA COAL SWAP DECLINED 3.14% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Tuesday, 07 July 15
FOB RICHARDS BAY COAL SWAPS DECLINED WEEK OVER WEEK
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$ ...
Tuesday, 07 July 15
FOB NEWCASTLE COAL SWAP ADVANCED MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.28 per MT (-0.61%) month over month to US$ 45.85 per mt. The swap wa ...
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- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- SMC Global Power, Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
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