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2017-10-13 12:45:00

JAPAN - INDIAN LNG

JAPAN - INDIAN LNG

REUTERS - India will work with Japan to make long-term liquefied natural gas (LNG) import deals more affordable for its price-sensitive consumers, it said on Wednesday, as these two big importers try to secure better prices and concessions from suppliers.

The arrangement will help state-run GAIL India Ltd swap a part of its 5.8 million tonnes of LNG booked with firms from the United States with that of Japan's contracted volumes in Asia and elsewhere, Sunjay Sudhir, joint secretary for international cooperation in India's federal oil ministry, told Reuters.

The world's biggest LNG buyers, all in Asia, are increasingly clubbing together to secure more flexible supply contracts in a move that shifts power to importers from producers in an oversupplied market.

An alliance of big buyers puts pressure on exporters such as Qatar, Australia and Malaysia. They prefer to have clients locked into fixed supply contracts that run for decades and make buyers take fixed amounts of monthly volumes irrespective of demand, with no right to re-sell surplus supplies to other end-users.

"Without joining any club, we would like to work with other major consumers to promote a flexible and open LNG market," Sudhir said.

India's cabinet on Wednesday approved the proposal to sign a Memorandum of Cooperation with Japan that it said would help to diversify gas supplies, strengthen energy security and lead to more competitive prices.

Japan is the world's largest LNG importer, and India the fourth biggest.

Under the arrangement, the two countries will try to get more flexibility in LNG contracts and abolish the Destination Restriction Clause, which prevents them from re-selling imports to third parties.

"The agreement will have a swap clause as well, like we can swap our Australian LNG from Gorgon project with LNG booked by Japan with Qatar," India's oil minister Dharmendra Pradhan, who is traveling to Japan next week, told reporters.

India last month agreed to buy more LNG from the Gorgon project after Exxon Mobil agreed to cut prices under a long-term deal.

India and Japan will also look at establishing LNG spot price indices that reflect true supply and demand.

Pradhan earlier this week said that India wanted to set up a gas trading exchange for transparent market-driven prices that would encourage investment into the sector.

India wants to increase its share of gas in its energy mix from about 6.5 percent now to about 15 percent in the next few years. Locally produced gas is sold at a government-set price formula.

The president of Japan's JERA Co, the world's biggest LNG importer, told Reuters on Wednesday that his firm was set to sign a new LNG contract that would be free of destination restrictions.

LNG markets have been marked by oversupply since 2014 as production has jumped.

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Earlier:

INDIA: 

       

 JAPAN:

 INDIA - OPEC ENGAGEMENT
2017, October, 11, 12:40:00

INDIA - OPEC ENGAGEMENT

‘India's engagement with OPEC is important as India sources about 86% of crude oil, 75% of natural gas, 95% of LPG from OPEC Member Countries.’

 

         SAUDI ADD TO JAPAN
2017, September, 11, 12:20:00

SAUDI ADD TO JAPAN

Oil giant Saudi Aramco will on Wednesday add 1.9 million barrels (300,000 kilolitres) of crude to storage that it holds in Japan, a Japanese trade ministry official said.

 WORLD ENERGY CONSUMPTION UP TO 28%
2017, September, 15, 08:55:00

WORLD ENERGY CONSUMPTION UP TO 28%

The U.S. Energy Information Administration projects that world energy consumption will grow by 28% between 2015 and 2040.  Non-OECD Asia (which includes China and India) accounts for more than 60% of the world's total increase in energy consumption from 2015 through 2040.

 

         QATAR - JAPAN LNG TALKS
2017, May, 31, 17:35:00

QATAR - JAPAN LNG TALKS

Qatar faces rising competition from a tide of new LNG from sources including Australia, which is expected to surpass it as the world's top exporter by 2019.

 IMF: SOUTHEAST ASIA'S TRANSFORMATION
2017, September, 13, 15:10:00

IMF: SOUTHEAST ASIA'S TRANSFORMATION

IMF - When we think about Asia’s economic future, we know that this future is being built on strong foundations—on the richness and diversity of its cultures, on the incredible energy and ingenuity of the people who have changed the world by transforming their own economies. China and India have been driving the greatest poverty reduction in human history by creating the world’s largest middle classes. 

 

         LNG  OVERSUPPLY
2017, April, 3, 18:40:00

LNG OVERSUPPLY

Korea Gas Corp (KOGAS), Japan's JERA and China National Offshore Oil Corp (CNOOC) [SASACY.UL] - whose joint liquefied natural gas volumes account for a third of global LNG trade - are attempting to cement a shift in power from producers to importers amid a supply glut that is expected to persist into the early-2020s.

 INDIA'S LPG WILL UP 10%
2017, August, 3, 12:20:00

INDIA'S LPG WILL UP 10%

India's LPG imports are expected to rebound from July onwards and is on track for a 10% annual increase in the current fiscal 2017-2018 (April-March), after plunging to the lowest in two years in June, trade sources from four oil and gas companies in India said recently.

 

         JAPAN'S LNG UP
2017, February, 10, 18:40:00

JAPAN'S LNG UP

The average price of spot LNG imports to Japan contracted in January 2017 was $8.40/mn Btu, up from $8/mn Btu in December 2016, the ministry of economy, trade and industry (Meti) said February 9, their highest level for two years. But Japan's IEEJ says that prices have now peaked.

 INDIA'S ENERGY TRANSFORMATION
2017, April, 10, 18:45:00

INDIA'S ENERGY TRANSFORMATION

Peak electricity demand has grown nearly 13% over the past two years as a growing middle class seeks new services, such as air conditioning, which continue to place higher demands on the system. Over the next 25 years, energy demand is expected to more than double as a result.

 

         JAPAN CAN BUY MORE
2017, February, 6, 18:40:00

JAPAN CAN BUY MORE

Japan is putting together a package of plans for Japanese companies to invest in infrastructure and job-creation projects in the United States. Japan is the world's biggest buyer of the gas cooled to liquid form for transport on ships and takes in nearly a third of global shipments.

 HEAVY INDIA'S ENERGY
2017, March, 13, 18:45:00

HEAVY INDIA'S ENERGY

The deeply troubled power industry accounts for almost one-tenth of all bank loans in India, and thus poses a threat to already weakened lenders, according to data from Morgan Stanley. What is more, like so many other industries, the power business is facing significant technological challenges as the cost of solar energy continues falling.

 

         INDIA - JAPAN COOPERATION
2017, January, 13, 18:55:00

INDIA - JAPAN COOPERATION

India and Japan should co-operate on long term contracts for LNG with a defined cost of energy which would provide a stabilizing factor for the renewable energy thrust that India is currently giving, Indian minister for power, coal, new & renewable energy and mines, Piyush Goyal said January 11 on the side-lines of the seventh India-Japan Energy Forum in New Delhi.

 INDIA'S LNG IMPORTS UP 18%
2016, December, 22, 15:50:00

INDIA'S LNG IMPORTS UP 18%

According to latest data published by oil ministry’s Petroleum Planning and Analysis Cell (PPAC), LNG imports in October were 2.26bn m³, up almost 18.6% compared with the same month last year. Cumulative imports too remain substantially higher. For the April-October period, India’s LNG imports were 14.9bn m³, up by 25% on year.

         THE LARGEST LNG IMPORTERS
2016, August, 25, 18:35:00

THE LARGEST LNG IMPORTERS

Japan, South Korea, and China are the three largest importers of liquefied natural gas (LNG) in the world, accounting for more than half of global LNG imports in 2015. Combined LNG imports in these countries averaged 18.2 billion cubic feet per day (Bcf/d) in 2015, a 5% (0.9 Bcf/d) decline from 2014 levels and the first annual decline in these countries' combined LNG imports since the global economic downturn in 2009.

 

 

 

Tags: JAPAN, INDIA, LNG

Chronicle:

JAPAN - INDIAN LNG
October, 20, 12:10:00

NORWAY'S PRODUCTION DOWN 171 TBD

NPD - Preliminary production figures for September 2017 show an average daily production of 1 772 000 barrels of oil, NGL and condensate, which is a decrease of 171 000 barrels per day compared to August.

JAPAN - INDIAN LNG
October, 20, 12:05:00

ЦЕНА URALS: $ $55,55881

Средняя цена на нефть Urals за период мониторинга с 15 сентября по 14 октября 2017 года составила $55,55881 за баррель, или $405,6 за тонну.

JAPAN - INDIAN LNG
October, 18, 19:10:00

OIL PRICE: ABOVE $58

Brent crude futures, the international benchmark for oil prices, were at $58.16 at 0643 GMT, up 28 cents, or 0.5 percent from their last close - and almost a third above mid-year levels. U.S. West Texas Intermediate (WTI) crude futures were at $52.03 per barrel, up 15 cents, or 0.3 percent, and almost a quarter above mid-June levels.

JAPAN - INDIAN LNG
October, 18, 19:05:00

РОССИЯ: БОЛЬШЕ НЕФТИ И ГАЗА

Александр Новак отметил рост основных показателей всех отраслей энергетики в прошлом году: «Мы имеем рекордные показатели за прошлый год по добыче нефти, угля. Идёт рост добычи и экспорту газа, в том числе в Европу на уровне 15 процентов. По углю мы наблюдаем рост добычи даже больше уровня прошлого рекордного года. Также отмечается рост производства электроэнергии на 2%, что говорит об оживлении экономики».

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