Asia/Pacific
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.
Looking Back at the Biggest Pipeline Stories of 2023
(P&GJ) – In this final issue of P&GJ for 2023, the staff – with more than a little help from our readers – takes a look back at the sometimes chaotic year in midstream that was 2023.
China's Sinochem Buys Rare Venezuelan Oil Cargo After U.S. Suspends Sanctions
China's Sinochem Corp. has bought a million barrels of Venezuelan crude oil for arrival in December, a rare purchase as the state oil and chemicals group capitalizes on Washington's suspension of sanctions on the South American producer.
QatarEnergy CEO Anticipates Imminent LNG Supply Deals in Asia and Europe
QatarEnergy expects to agree new long-term LNG supply deals in Asia and Europe, with several "imminent", its chief executive told Reuters.
Indonesia's Pertamina Starts Carbon Injection Tests in Sukowati Field
Indonesia state energy firm Pertamina has started an underground carbon injection trial in Sukowati field, the second site the company is testing for carbon capture, utilization and storage (CCUS).
Shell Shortlists CNOOC and Vitol for Singapore Assets Sale
Shell has shortlisted at least four companies including state-run China National Offshore Oil Corp. (CNOOC) and top global energy trader Vitol as bidders for its Singapore refinery assets, sources with knowledge of the matter said.
China Introduces Simplified Regional Pricing System for Natural Gas Transportation
China will simplify freight rates on its natural gas pipeline network by introducing a "one area, one price" system across four broad areas of the country, according to a document released by the state planner on Tuesday.
Global News December 2023
Latest industry developments from around the world!
India Energy Week to Showcase India’s Leadership in the Global Energy Landscape
(P&GJ) — The second edition of India Energy Week (IEW) will be hosted in Goa from February 6th to 9th 2024, by the Federation of Indian Petroleum [FIPI] Industry, under the aegis of Ministry of Petroleum and Natural Gas, Government of India.
Cambodia Scraps Coal Power Project to Build Gas-Fired Plant, Import LNG
Cambodia has abandoned plans to build a $1.5 billion 700 megawatt (MW) coal-fired power project in a protected reserve along the southwestern coast and will build an 800 MW natural-gas fired plant instead, its energy minister told Reuters.
Japan Approves JERA Plan to Keep Surplus LNG in Winter
Japan's industry ministry has approved a plan by the country's top power generator JERA to hold a surplus of LNG in the winter as a strategic reserve in case of supply disruptions, its minister said on Friday.
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- Four Petroleum Liquids Pipelines Completed in U.S. Since 2023
- Lighter U.S. Permian Crude Risks Losing Favor with Refiners Due to Processing Challenges
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
