Asia-Pacific

Asia spot LNG at 3-month peak on steady demand, supply disruption

Asian spot LNG prices edged up, reaching the highest levels in three months, as they remained supported by steady demand and supply disruption concerns.

Chevron hands Myanmar gas field stake to junta, Thailand's PTTEP

U.S. energy company Chevron has quit the Yadana natural gas field in Myanmar, a spokesperson said, more than two years after it condemned violence and human rights abuses there and announced it would leave.

TotalEnergies: Papua LNG project requires 'more work' to reach final investment decision

French oil and gas giant TotalEnergies said a planned new LNG project in Papua New Guinea would require 'more work' before a final investment decision could be reached.

Shell sees significantly lower Q1 LNG trading results

Shell said it expects significantly lower results from its LNG trading business in the first quarter of 2024 compared with the previous three months.

Asia spot LNG holds at 6-week top amid sustained demand

Asian spot LNG was unchanged this week, keeping at a six-week high over $9 per MMBtu for a third consecutive week, as demand from buyers continued shoring up prices.

Shell, Aramco in final stage of Pavilion Energy talks

Shell and Saudi Aramco, which are competing to buy the assets of Temasek-owned LNG trading firm Pavilion Energy, are now locked in price negotiations after completing the due diligence process,.

Japan's Mitsui OSK starts FSRU operations for Indonesian gas-fired power plant

Japan's Mitsui O.S.K. Lines Ltd. has started commercial operations of its FSRU to supply LNG to a power plant in West Java, Indonesia.

Aramco awards $7.7-B contracts to add 1.5 Bscfd of raw gas to Fadhili Gas Plant

Aramco awarded engineering, procurement and construction contracts worth $7.7 B for a major expansion of its Fadhili Gas Plant in the Eastern Province of Saudi Arabia.

Japan's Mitsubishi invests in EIG's LNG company MidOcean Energy

Japanese trading house Mitsubishi has agreed to invest in MidOcean Energy, an LNG company owned by U.S. investment firm EIG, MidOcean said without giving details of the deal.

China power firm GCL revives LNG ambition after solar spin-off

Privately-run Chinese power company GCL Holdings is rebuilding a natural gas business after offloading hundreds of solar installations to set up gas import capacity and a trading operation.

QatarEnergy to charter 19 new LNG vessels expanding fleet further

QatarEnergy CEO Saad Al Kaabi announced that the company has finalized a number of charter contracts with several Asian ship owners to bolster its shipping fleet by 19 LNG vessels ahead of a massive expansion in LNG output.

Credit Agricole says it will not fund two major LNG projects

Credit Agricole said that it would not provide financing to two major LNG projects, citing commitments to refrain from new fossil fuel developments.

Japan's Mitsui decides to develop Vietnam gas field for $740 MM

Japanese trading house Mitsui & Co said it has reached a final investment decision to develop Vietnam's Block B gas field, with its share of development cost of about $740 MM.

Japan's JERA suspends output at 4 gas-fired power plants to secure LNG stocks

Japan's biggest power generator JERA said it has suspended production at four of its gas-fired power stations and curtailed output at another plant from to secure sufficient LNG inventory.

Western Australia’s domestic gas market in flux as traditional supply sources mature

With gas demand slowly outstripping supply, Western Australia’s once well-supplied domestic gas market is now tight, and further volatility is expected until new volumes come online later in the decade, according to a new report from Wood Mackenzie.

Asia spot LNG maintains six-week high amid emerging demand

Asian spot LNG prices were little moved this week, holding on to a six-week high amid emerging spot demand in both southeast Asia and Europe.

Japan's February LNG imports fall 5.9% on storage withdrawals

Japan's imports of LNG dropped 5.9% in February from a year earlier, data released by the Ministry of Finance showed, as power producers drew LNG from storage and boosted use of renewable energy.

Osaka Gas sees little impact from Freeport LNG's partial shutdown

Japan's Osaka Gas expects to see little impact on its balance of supply and demand for LNG from a partial shutdown of U.S. Freeport LNG's facilities.

Nozomi Networks extends partnership with Yokogawa to deliver OT and IoT security services worldwide

Nozomi Networks Inc. announced it has extended its partnership with Yokogawa Electric Corporation, to address global demand for managed security services and solutions designed to holistically satisfy the unique OT and IoT cybersecurity requirements of process manufacturers.

ExxonMobil warns Australia faces sharp drop in gas supply, calls for policy stability

Exxon Mobil Corp gave a dire warning about the outlook of Australia's domestic gas supply, joining other gas producers in calling for policy stability and more investment in the sector.

PetroChina's 2023 net income up 8.3% on strong fuel, gas sales

PetroChina's net profit rose 8.3% last year off record levels in 2022, as strong growth in natural gas sales and its marketing segment offset lower realized oil prices.

Woodside seeks better terms to develop Trinidad's Calypso gas project

Australian oil and gas producer Woodside Energy would like to see improved fiscal terms from the Trinidad and Tobago government before committing to develop a deep-water natural gas project there.

ExxonMobil ahead of schedule on doubling LNG portfolio, exec says

ExxonMobil is ahead of schedule with its plan to double the size of its LNG portfolio to 40 MMtpy by 2030 and will focus on selling its own gas rather than trading that of third parties.

Asia spot LNG gains on supply concerns, steady demand

Asian spot LNG prices edged up this week to a six-week high amid supply concerns and following some spot demand pickup from buyers.

Yokogawa launches OpreX Robot Management Core

Yokogawa Electric Corporation announced the development and release of OpreX Robot Management Core, a software application in the OpreX Asset Management and Integrity family and will go on sale on March 22, 2024.

Lower LNG prices trigger surge in Asian spot market purchases

Price-sensitive LNG buyers from China, India and parts of Southeast Asia are snapping up more spot shipments of the fuel to power industries and generate electricity after prices have fallen to the lowest level in nearly three years.

Samsung Engineering rebrands name to 'SAMSUNG E&A'

The company name change to SAMSUNG E&A CO., LTD. was confirmed during the 57’s general shareholders' meeting on 21 March 2024, where the change of articles of incorporation were passed.

Petronas starts construction of floating LNG facility for Argentina

Malaysia's state energy firm Petronas has begun the construction of a floating LNG processing unit to be placed off the coast of Argentina, which aims to begin exports by 2027.

Global LNG market will 'be tight' until 2026 - TotalEnergies CEO

The global LNG market will be tight until 2026, Patrick Pouyanne, CEO of TotalEnergies, said at a conference in Houston.

Shell publishes Energy Transition Strategy 2024

Shell has published its first energy transition update since the launch of its Powering Progress strategy in 2021 and with this energy transition update, Shell is focusing on how the same strategy delivers “less emissions”.