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2015-05-22 17:35:00



The World Bank's private lending arm is targeting investments in natural gas companies in China, the largest growing market for the fuel.

The International Finance Corp. is investing $150 million in gas distribution company China Tian Lun Gas Holdings about two weeks after announcing a $300 million debt-financing deal for China Gas Holdings. Tian Lun Gas shares jumped the most on record. The IFC will probably invest in two to three other gas distributors in the nation in the "medium term," according to Lance Crist, the IFC's global head of oil and gas in Washington.

Chinese gas demand will more than triple from 2012 to 2040 as the nation seeks to diversify away from coal to reduce air pollution, according to the Paris-based International Energy Agency. Gas will account for 11% of the country's primary energy demand in 2040 from 4% now, the agency said in its 2014 World Energy Outlook report.

"Gas has traditionally been a very small part of the energy equation in the country, representing only about 5% of the energy supply," Crist said. "The Chinese government itself is targeting to double that to around 10% over the next five years and frankly we would like to see it reach more like 15 to 20% in the next 25 years."

Tian Lun Gas rose 9.6% by 9:01 a.m. London time after earlier advancing as much as 24%, the biggest intraday gain since the shares started trading in November 2010.

Chinese Urbanization

Half of the funds for Tian Lun Gas will come from the IFC's Global Infrastructure Fund, the first Asian deal by the $1.2 billion facility aimed at infrastructure projects in developing countries, according to a statement Monday. The lender, which in 2013 invested in ENN Energy Holdings, expects to provide a $60 million loan package for Hong Kong-listed Tian Lun Gas in the third quarter, Crist said.

China will need more energy as people move from rural areas to cities, presenting an opportunity for gas distribution companies, according to Crist. The nation's demand for the fuel will rise to exceed 600 billion cubic meters (21 trillion cubic feet) by 2014, more than Europe consumes now, the IEA estimates. Usage will reach 390 billion by 2025 from 148 billion in 2012.

"They do have a significant urbanization plan in China," Crist said. That "represents growth opportunities for these companies. They are growing 20 to 30% a year and for us, as an investment proposition, that's a fantastic outlook."

The IFC will also seek to invest in China's liquefied natural gas (LNG) terminals over the next year or two as private projects develop, he said. China will become the world's biggest LNG importer after Japan by 2035, BP said in its energy outlook. The nation may be one of the first to develop LNG use for river transport in a bid to reduce emissions from diesel, according to the IEA.

"We are looking to see how we can address all aspects of the value chain," Crist said. "I expect we will be much more heavily involved for instance in the LNG import business, as we are in other countries."




2018, January, 19, 12:15:00


PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.

2018, January, 19, 12:10:00


AOG - ADNOC’s 2030 strategy, he said, aims to capitalise on predicted global economic growth and demand for oil and petrochemical products, particularly in non-OECD countries. As its business responds to changing market dynamics, the company will continue to broaden its partnership base, strengthen its profitability, adapt to new realities and expand market access.

2018, January, 19, 12:05:00


WNN - Under the terms of the assignment and purchase agreement it has signed with Nucleus and Brookfield, Toshiba will sell its rights to assert claims against Westinghouse related to the parent guarantees in the amount of $5.788 billion, and on account of other claims Toshiba holds against Westinghouse in the amount of $2.284 billion to Nucleus, for the sale price of $2.160 billion.

2018, January, 17, 23:50:00


REUTERS - Brent crude futures LCOc1 were at $69.23 a barrel at 0808 GMT, up 8 cents from their last close, but down from a high of $69.37 earlier in the day. Brent on Monday rose to $70.37 a barrel, its highest since December 2014, the start of a three-year oil price slump. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.84 a barrel, down from a high of $63.89 earlier, but up 11 cents from their last settlement. WTI hit $64.89 on Tuesday, also the highest since December 2014.

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