Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2017-02-10 18:35:00

SOUTH KOREA'S LNG DOWN

SOUTH KOREA'S LNG DOWN

REUTERS - Korea Gas Corp (KOGAS), the world's No.2 buyer of liquefied natural gas (LNG), would be "interested" in participating in U.S. shale gas projects, with such investment curbing any potential trade pressure on South Korea from the U.S. government.

U.S. President Donald Trump, who has dropped out of the 12-nation Trans-Pacific Partnership pushed by his predecessor Barack Obama, has repeatedly criticized the trade policies of South Korea's neighbors, Japan and China.

"U.S. trade pressure is likely to increase, but U.S. gas investments can work as a tool against trade pressure," Lee Seung-hoon, CEO of state-run KOGAS, said at a forum in Seoul.

Expected to become an importer of LNG just a decade ago, the shale gas revolution in the United States unlocked cheap, abundant gas supplies, allowing the country to become an exporter instead.

Benefiting from the Panama Canal expansion last year that allows bigger ships to cross from the Gulf of Mexico into the Pacific, it has been pushing to ship more cargoes to meet surging demand in parts of Asia.

"Securing U.S. shale gas is crucial because it's an important resource," said Lee, adding that such imports would help keep its supplies stable.

KOGAS in 2012 signed a deal with Texas-based Cheniere to bring in 2.8 million tonnes of LNG annually for 20 years starting from this year. Lee said the first cargoes from the deal were expected to arrive in South Korea this summer.

Lee also said that the company could eventually import LNG from both the United States and Iran without so-called 'destination restrictions', or clauses in contracts that limit possible buyers for any resales of the cargoes.

"When new suppliers enter, they cannot request destination restrictions ... we can secure supplies that don't carry destination restrictions," he said.

Iran, despite having some of the world's biggest natural gas reserves, does not have LNG export facilities, so shipping its gas to South Korea would require vast investment and would take many years to develop.

But Lee said that South Korean demand for LNG would keep falling in the short-term due to increased electricity output from nuclear and coal-fired power plants. The country is the world's second-biggest LNG importer after Japan.

"This year South Korea's LNG demand is expected to remain flat at around 30 million tonnes," Lee told Reuters on the sidelines of the event.

-----

Earlier: 

OIL & GAS WEAKNESS 

THE LARGEST LNG IMPORTERS 

ASIAN LNG IMPORTS UP 

S.KOREA'S OIL UP 4.5% 

2016: ASIAN MARKET TROUBLE

 

 

Tags: SOUTH, KOREA, LNG, USA

Chronicle:

SOUTH KOREA'S LNG DOWN
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

SOUTH KOREA'S LNG DOWN
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

SOUTH KOREA'S LNG DOWN
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

SOUTH KOREA'S LNG DOWN
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

All Publications »