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2016-08-02 18:35:00

VIETNAM & JAPAN LNG

VIETNAM & JAPAN LNG

NGA wrote, Petrovietnam Gas (PV Gas), Bitexco and Tokyo Gas have established a joint venture entity, LNG Vietnam.

According to a statement by PV Gas, the newly formed entity came in existence on August 1, 2016. State owned PV Gas believes LNG Vietnam will smoothen the imports of the fuel and help diversifying the supply of gas in the rapidly growing domestic market. The new entity will also look at exporting LNG to markets in the region.

As per the agreement PV Gas would hold 51% stake in LNG Vietnam, Bitexco will own 39% and Tokyo Gas 10%.

Earlier this year, PV Gas and Tokyo Gas had signed an agreement to extend the MoU for the comprehensive cooperative relationship on the development of LNG value chain in Vietnam.

Demand for gas in expanding rapidly in Southeast Asia and Vietnam is no exception. LNG is in demand as an energy source for industrial parks around Ho Chi Minh City in the country's south. There are plans to build LNG facilities, including at the port of Thi Vai near the city, Nikkei added.

Expectation of robust energy consumption growth has attracted other global majors to the region as well. In May, Italy's Enel and the Japan's Marubeni Corporation said they will together explore for opportunities in the gas generation sector in the Asia-Pacific region.

Energy landscape in Southeast Asia is undergoing a major shift as domestic demand continues to race ahead. According to International Energy Agency (IEA), as domestic natural gas demand outpaces indigenous production, intra-regional and intra-country trade increases, Southeast Asia will turn into a net gas importer of around 10 bcm by 2040, compared with net exports of 54 bcm in 2013.

IEA says electricity demand would almost triple by 2040, an increase greater than the current power output of Japan. Although coal still remains the dominant fuel, greater focus on pollution reduction will lead to demand growth in gas fired power plants.

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Earlier:

VIETNAM: 

RUSSIA: I'M BACK 

SOUTHEAST ENERGY WAR 

АСЕАН: РАСТУЩИЙ РЫНОК 

СОТРУДНИЧЕСТВО РОССИИ И ВЬЕТНАМА 

ROSNEFT AND PETROVIETNAM COLLABORATION 

GAZPROM AND PETROVIETNAM COLLABORATION

 

JAPAN: 

JAPAN RESHAPES MARKET 

JAPANESE DESIRES 

GREATLY WORRIED WORLD 

AUSTRALIAN LNG: TO JAPAN 

RUSSIAN - JAPANESE BRIDGE

 

LNG: 

INVERTED LNG MARKET 

QATAR LNG UP 50% 

LNG: BIG AUSTRALIA 

AUSTRALIAN LNG UP 

THE BIGGEST ASIA'S LNG TERMINAL

 

 

 

Tags: VIETNAM, JAPAN, LNG, SOUTHEAST, ASIA

Chronicle:

VIETNAM & JAPAN LNG
2018, August, 17, 11:30:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.

VIETNAM & JAPAN LNG
2018, August, 17, 11:25:00

NORWAY'S PETROLEUM PRODUCTION: 1.911 MBD

NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.

VIETNAM & JAPAN LNG
2018, August, 17, 11:20:00

GAZPROM NEFT NET PROFIT UP TO 49.6%

GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.

VIETNAM & JAPAN LNG
2018, August, 15, 11:10:00

OIL PRICE: NEAR $72

REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.

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