Asia/Pacific

TotalEnergies to Acquire OMV's Malaysian Gas Assets for $903 Million

TotalEnergies has entered into an agreement with OMV for the acquisition of OMV's 50% interest in SapuraOMV Upstream Sdn, a Malaysian independent gas producer and operator.

Poland's Gaz-System Chooses Mitsui O.S.K. Lines for LNG Regasification Unit

Polish pipeline operator Gaz-System has chosen Japan's Mitsui O.S.K. Lines to supply a floating storage and regasification unit (FSRU), it said on Thursday.

Santos Amends PNG Stake Sale Terms with Papua New Guinea's Kumul Petroleum

Oil and gas giant Santos said on Thursday it had amended the terms of sale of its 2.6% stake in PNG LNG project to Kumul Petroleum, allowing the Papua New Guinea state-owned firm additional time to pay the purchase price.

India Offers LNG Supply to Sri Lanka for Power Plants

India has proposed to supply LNG to Sri Lanka to help the island nation produce power from its Yughadhanavi and Sobhadabavi power plants, Sri Lanka's Energy Minister said on Thursday.

Global News February 2024

Latest industry developments from around the world!

AG&P LNG Plans 6 South and Southeast Asian Terminals in Next 2 Years

Atlantic Gulf & Pacific Company (AG&P) LNG aims to make a final investment decision (FID) and start developing six liquefied natural gas terminals in South and Southeast Asia within the next one-to-two years, the company's chief executive said.

Saudi Aramco's Capacity Cut and Pipeline Incident Trigger 11% Drop in Saipem Shares

Shares in Italian energy contractor Saipem plunged by 11% on Tuesday after damage caused by an incident involving one of its pipe-laying vessels and a decision by Saudi Aramco to drop its oil capacity expansion plans.

ADNOC Gas Inks 10-Year LNG Supply Deal with India's GAIL

ADNOC Gas on Tuesday signed a 10-year agreement to supply 0.5 million metric tons per year of LNG to India's largest natural gas company GAIL.

Russia’s Planned Gas Pipeline to China Faces Construction Delay

Mongolian Prime Minister L. Oyun-Erdene said construction of Russia's planned new Power of Siberia-2 gas pipeline to China, which was expected to start this year, may be delayed.

India Approves $1.02 Billion in Incentives for Coal Gasification

India's cabinet on Wednesday approved plans to provide incentives worth $1.02 billion for projects to convert coal into gas, the coal and mines minister said, as it seeks to reduce its reliance on imported fuel.

Japan's 2023 Preliminary LNG Imports Down 8% to Lowest in 14 Years

Japan's LNG imports fell by 8% to 66.2 million metric tons last year to the lowest since 2009, preliminary data from the Ministry of Finance showed, following nuclear power restarts and increased use of renewable energy.

Saudi's SABIC Gives Go-Ahead for $6.4 Billion Petrochemical Plant in China

Saudi Basic Industries Corp. (SABIC) will go ahead with building a petrochemical complex in southeastern China's Fujian province, the company said in an exchange filing on Sunday, shoring up Saudi ties with China, the world's top oil importer.

Global Pipeline Construction Outlook 2024: New LNG Terminals Sound Beckon Call for More Pipelines

(P&GJ) — It comes as little surprise to those in midstream that during the past year we have continued to see LNG initiatives garner more attention than pipeline projects. However, terminal construction drives new pipeline construction.

Qatar Set to Sign Cheaper Long-Term LNG Deal with India

Qatar Energy within weeks could sign a long-term deal to provide LNG to Indian buyers on cheaper and more flexible terms than existing contracts, trade sources said, as India seeks to meet a goal to increase the fuel's use.

Inpex Expedites $20 Billion Abadi LNG Project Development in Indonesia

Inpex Corp., Japan's top oil and gas explorer, is set to accelerate development of its $20 billion Abadi Indonesian LNG project, with the aim of starting operations as soon as late this decade, its CEO said on Thursday.

Sinopec Unveils Massive 133 Bcm Certified Tight Gas Reserves in Sichuan Basin

China's Sinopec Corp. said on Wednesday that the Chinese government had recently certified 133 billion cubic meters of proven geological reserves of natural gas in its operation in southwest Sichuan basin.

China's 2023 Crude Oil Imports Hit Record as Fuel Demand Recovers

China's annual crude oil imports hit an all-time high in 2023, customs data showed on Friday, as fuel demand recovered from a pandemic-induced slump despite economic headwinds.

Tokyo Gas Anticipates Completion of Australian LNG Asset Sale in Late February

Japan's biggest city gas provider, Tokyo Gas, said on Thursday it expects to close the planned sale of its stakes in a portfolio of four Australian liquefied natural gas (LNG) projects at the end of February.

Surging Freight Rates Close the Door on U.S. Crude Oil Shipments to Asia

The economic incentive to import oil from the U.S. Gulf Coast to Asia has closed as the cost of booking supertankers on the route has surged amid a jump in bookings for the vessels, traders said this week.

Saudi Arabia Tries to Thread the Needle Between Crude Output, Prices

Saudi Aramco's decision to cut the price of its crude for Asian customers shows just how difficult it is for the world's largest oil exporter to walk the line between maintaining market share and restraining output enough to bolster prices.

Iran's Oil Trade with China Stalls as Tehran Demands Higher Prices

China's oil trade with Iran has stalled as Tehran withholds shipments and demands higher prices from its top client, tightening cheap supply for the world's biggest crude importer, refinery and trade sources said.

India's GAIL Signs 10-Year LNG Purchase Deal with Vitol

State-run GAIL (India) Ltd. has signed a 10-year LNG import deal with trader Vitol to buy about 1 million metric tons per year (tpy) of the super-chilled fuel from 2026.

Gazprom Sets Daily Gas Supply Record to China via Power of Siberia Pipeline

Russian energy giant Gazprom said on Wednesday it set a new daily record the previous day for gas supplies to China through the Power of Siberia pipeline.

India Boosts Saudi Oil Imports in December Amidst Decline in Russian Purchases

India increased imports of Saudi oil in December as payment problems drove its Russian oil buys to an 11-month low, with at least five cargoes of the sweet Sokol variant heading to other locations, data from vessel tracking agencies showed.

Saudi Aramco, China's Rongsheng in Advanced Talks for Mutual Stake Purchase in Refining Units

Chinese privately-controlled refiner Rongsheng Petrochemical and Saudi Aramco are in talks for the Chinese company to buy a 50% stake in the Saudi company's refining unit SASREF, a filing showed on Tuesday.

Global News January 2024

Latest industry developments from around the world!

China Seeks Exemption from U.S. Sanctions on Russian LNG Plant

China's state oil majors CNPC and CNOOC have both asked the U.S. government for exemptions from sanctions on a new Russian LNG export plant, a Beijing-based industry official with direct knowledge of the matter said.

ADNOC Signs 15-Year LNG Supply Deal with Unit of China's ENN

Abu Dhabi's state oil giant ADNOC said on Wednesday it signed a 15-year agreement to deliver at least 1 million metric tons a year of LNG to a subsidiary of China's ENN Natural Gas.

Mubadala Energy Makes Major Gas Discovery in Indonesia’s South Andaman

United Arab Emirates' Mubadala Energy said it discovered a major deep sea gas reserve in Indonesia's South Andaman Block, which analysts said is the world's second-largest deepwater discovery this year.

Beijing Eyes Broader Energy Collaboration with Russia, Discusses Power of Siberia 2 Gas Pipeline

Beijing intends to expand energy cooperation with Russia along all stages of production, and Chinese Ambassador to Russia Zhang Hanhui said that both countries were in active discussions about Russia's planned Power of Siberia 2 gas pipeline.