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Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
 Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an extended period of oversupply. Things haven’t played out quite like that, and prices have staged a strong recovery.
The market may not be out of the woods yet, as supply builds up next year potentially putting some downward pressure on prices. But the outlook beyond is bullish, with 65 mmtpa of new supply needed to meet growing demand by 2025 – that’s 20 mmtpa more than we forecast a year ago.
How have things turned round so quickly?
Demand has been firmer. Low prices drew buyers into the market after Asian LNG prices fell 75% from the 2013 peak of US$17/mmbtu to US$4/mmbtu by 2016. China began a buying spree that hasn’t stopped, spurred by the Government’s initiative to improve air quality in its cities. The Paris Agreement of 2015 has hardened energy policy – European governments are accelerating a shift away from coal to the benefit of renewables as well as gas. A new and diverse breed of countries has joined the traditional LNG buyers, among them Pakistan, Bangladesh, Colombia, Jamaica and Panama. LNG has gone global in the downturn.
Europe emerges as key growth target for LNG suppliers
Delayed production startup at some new LNG projects has also diminished the feared oversupply. Future gas supply in Europe will be structurally reduced by the decline of Groningen. The Dutch field, a pillar of continental supply for over 50 years, is beset by earthquakes. Volumes will be cut to minimal levels in the early 2020s and cease in 2030. With Russian pipelines maxed out, even with modest demand growth Europe has emerged as a key growth target for LNG suppliers. The loss of Groningen alone accounts for half of the 20 mmtpa increase in our forecast 2025 supply gap.
As global LNG players gather in Barcelona for the big Gastech Conference September 17-20, things look brighter. Yet major challenges lie ahead for the industry, these three among them.
1. Bringing competitive new supply to market
Projects are jockeying for position including Mozambique Areas 1 (Anadarko) and 4 (Eni/ExxonMobil), Arctic LNG 2 (NOVATEK/Total), LNG Canada (Shell/Petronas), Qatar expansions (Qatargas) and a plethora of US sites. 2019 may be the biggest year ever for LNG project sanctions; 100 mmtpa of new capacity could reach FID in the next three years.
Project delivery and managing spend of up to US$200bn will be big tests following the difficulties of the last cycle. And with buyers unwilling to commit to long term contracts for all their needs, sellers have to take on more risk. The ‘new economics’ of LNG projects favours big, financially strong players – large resource holders, major portfolio players and, possibly, traders.
2. The inexorable rise of US supply democratising the LNG market
A fringe player a few years ago, US LNG will vie with Qatar to be the world’s biggest supplier by the mid-2020s. Cheap Permian and Marcellus gas create a competitive advantage versus many conventional projects. Some LNG contracts are already marketed as distinctly Henry Hub, influencing oil-linked LNG pricing. In time a quarter of all cargoes on the high seas will be Henry Hub-derived, FOB with no destination clauses. This will dramatically increase liquidity in LNG trading and the effect on global LNG pricing will be profound.
Gas hubs in the US and Europe have evolved over the decades to accommodate gas/oil competition and arbitrage between spark spreads and dark spreads. So too will Henry Hub be duly absorbed into the global pricing mix in European hubs and Asia. A global LNG marker price will emerge with Henry Hub a key determinant.
3. The need for sustained gas advocacy
Gas is presently winning market share from coal. But intensifying policy on energy efficiency, methane and carbon emissions, the growth of renewables, development of battery storage and new energy technologies all pose a threat. Gas cannot rest on its laurels as a bridging fuel for the energy transition. The industry needs to keep pressing the case for gas as the low carbon intensity option, and continue to build new markets by ensuring security of supply at a competitive cost.
Source: Wood Mackenzie
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Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
Thursday, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
Once again, the already long list of tariffed goods has been made even longer. Many more commodities were hit on 23 August, but September is likely ...
Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Introduction
A recent English Court of Appeal decision provides important guidance on the applicability of charterpar ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
...
Wednesday, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
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Showing 1621 to 1625 news of total 6871 |
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- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Parliament of New Zealand
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
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