Global demand for liquefied natural gas will grow to 700 million tons annually by 2040 from 360 million tons last year, Shell said in its LNG Outlook 2021. As much as 75 percent of this demand growth will come from one regional market: Asia. Asian economies have been a key …
Read More »Switch to LNG Threatens Renewable Energy Development in Asia
A concerted effort by the US gas industry to push LNG on to developing Asian nations is jeopardizing renewable-energy investment across the continent. General Electric (GE) has been working to persuade Bangladesh to buy its LNG power technology. And Vietnam’s new draft long-term energy plan’s increased focus on liquefied natural …
Read More »GECF: Asia with 71% of Global LNG Imports to Remain Largest Regional Market
The gas market will progressively become more interconnected and less regionalised due to the projected extension of total gas exports; GECF said and noted the Asian LNG market, with 71% of global LNG imports, will remain the largest regional market. The share of traded LNG will increase to approximately 48% …
Read More »Energy Majors Re-Route LNG Supplies from Europe to Asia
Global energy majors including Royal Dutch Shell and Total are expected to benefit most from January’s gas price spike, beating rival trading houses and non-integrated producers thanks to their access to multiple sources of the fuel. Asian liquefied natural gas (LNG) prices have rocketed to record highs in January due …
Read More »Asian Customers of Saudi Oil are Having to Pay more These Days
Saudi Arabia raised oil pricing for customers in its main market of Asia after optimism over coronavirus vaccines caused crude prices to climb to an eight-month high last week. The increase, the biggest in five months, indicates the world’s largest oil exporter is confident global energy demand is strong enough …
Read More »Iraq Attempts to Seize Market in the Crucial Asian Market
Every new crisis is a formidable opportunity to try new things, oftentimes merely to have another go with methods that have failed in the past but should work better now. Cognizant of the pricing developments in the Asian market, the Iraqi state oil marketing company SOMO has announced that from …
Read More »Asian Gas Markets Warm up to China’s Surging LNG Demand
Aside from economic growth during a global pandemic, China appears to be also projecting an increase in natural gas demand this winter while other major Asian powers’ gas demand is either expected to remain flat or increase only incrementally. On Thursday, the country’s three state-run oil majors said that China’s …
Read More »Russia Pushes ahead with Plans to Expand Gas Supplies to Asia
As Russia’s relationship with the West reaches a new low, the world’s largest country is now looking East to diversify gas exports to Asian markets. Addressing the plenary session of the 12th VTB Capital’s Russia Calling! Investment Forum via video conference, Russian President Vladimir Putin reaffirmed Russia’s intention to boost …
Read More »Japan Vows to Become Carbon-Neutral by 2050
Addressing the Japanese Parliament, the Prime Minister said that measures to tackle climate change are no longer a constraint on economic growth.
Read More »Uzbekistan Secures €55.8m Loan to Finance Hydropower Projects
The country hopes to generate a quarter of its electricity from renewable sources by 2030, including 3.8GW of hydropower.
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