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Wood Mackenzie's Gavin Thompson provides a commentary on the US-China Phase One trade deal
Wood Mackenzie’s latest report reveals that LNG sellers with contracts linked to JCC (Japan Crude Cocktail) could lose some US$15 billion in unearned revenues. This is a result of the IMO 2020 regulation limiting sulphur content of marine fuels to up to 0.5%, which directly affects the price of sour crudes such as those composing the JCC mix. The IMO 2020 kicks in on 1st January 2020.
The EIB's new financing criteria will make lending to gas projects very difficult. It highlights that gas is also increasingly in the spotlight of the climate debate.
Total announced today its partnership with Adani Group which includes two LNG terminals, Dhamra in East India and potentially Mundra in the West, as well as Adani Gas Limited, one of the 4 main distributors of city gas in India of which Adani holds 74.8% and of which Total will acquire 37.4%.
New research from Wood Mackenzie indicates that the creation of a national pipeline company in China is a step in the right direction but will result in higher end-user prices in the short-term as the country tries to balance institutional reform with implementation risks.
Japan is planning to invest an additional $10 billion to develop infrastructure mainly in new and developing markets in the India sub continent and Southeast Asia, reflecting a shift in priorities.
According to a new report by Wood Mackenzie, coal will continue to be the dominant fuel source in power generation, peaking at 2027 before slowing down and accounting for 36% of the region’s generation mix in 2040.
Though set to become the world’s third largest gas producer by 2027, China’s imports will still grow in the long term. One key contributing factor is lower forecast in domestic gas production particularly in shale gas and coal bed methane (CBM), according to recent research by Wood Mackenzie.
According to a new report by Wood Mackenzie, Japan could lose its pole position as the world’s top LNG importer to China as early as 2022.
The Government of Indonesia has approved the revised Plan of Development for the Abadi LNG project. INPEX (operator, 65%) and Shell (35%) will develop Abadi via an offshore production facility and a 9.5 million tonnes per annum (mmpta) onshore LNG plant, at an estimated cost of US$20 billion.
Arctic LNG-2 is a step closer to final investment decision (FID) with the entry of Japanese companies Mitsui and government-linked Japan Oil, Gas and Metals National Corporation (JOGMEC) into the project.
According to research by natural resources consultancy Wood Mackenzie, Malaysia offers some of the most material and attractive upstream investment opportunities in Southeast Asia, primarily due to the need for additional gas supply.
The HoA formalises the recent outline agreement between the Government of Indonesia and INPEX on the Masela development project.
Rising natural gas production in Argentina, coupled with competitive global LNG transportation costs, is expected to position the country as an emerging source of gas supply to Asia during peak demand periods, according to new research from Wood Mackenzie.
Wood Mackenzie senior analyst Daniel Toleman shares his thoughts on the event of Prelude's first LNG cargo.
According to research by Wood Mackenzie, a second wave of LNG investments is building, both in Australia and globally, and these projects need to compete to progress
Following PM Scott Morrison's win in the recent 2019 Australia election, Wood Mackenzie and Verisk Maplecroft analysts share their thoughts.
Implementation of IMO 2020 regulation is just eight months away and its implications will be felt beyond refining and shipping. Wood Mackenzie's Asia Pacific experts weigh in on what this means for the different sectors.
Australia's general election is around the corner and Labor looks set for victory. Labor has announced its commitment to reduce Australia’s carbon emissions by 45% between 2005 and 2030, and to reach net-zero pollution by 2050. It has also proposed changes to existing mechanisms to lower energy and gas prices.
India's first east coast regas project, Ennore LNG terminal, was commissioned yesterday by Indian Oil Corporation (IOCL). Wood Mackenzie's senior analyst Kaushik Chatterjee shares the significance of this project and how this marks the beginning of India doubling its regas capacity to 56.5 million metric tonnes per annum (mmtpa) by 2025.
Wood Mackenzie's latest research reveals that uncontracted demand by the world's seven largest LNG buyers could quadruple to 80 million tonnes per annum (mmtpa) by 2030.
In a newly published report, Wood Mackenzie notes that the deepwater industry appears in good health, following a sustained cost reduction through the downturn. However this hard work is in danger of being undone, as impending cyclical cost inflation could raise break-even costs once again.
New research from global natural resources consultancy Wood Mackenzie indicates Asia-Pacific's offshore wind capacity will rise 20-fold to 43 GW in 2027.
After a decade of stellar growth, Wood Mackenzie forecasts that solar demand in the Asia-Pacific will decline for the first time this year. Compared to 2017, the region's solar demand will dip 18% to 59 GW in 2018 due to declining installations in China, India and Japan.
Asia-Pacific's oil and gas sector looks set to rebound over the next 12 months as rising demand, stronger commodity prices and an uptick in M&A activity bring greater confidence to the region. Wood Mackenzie predicts rising Asian LNG demand, the return of China's NOCs to growth mode and new appetite for upstream investment to be key factors influencing the sector, not only Asia-Pacific, but also globally into 2019.
In the 12 months up until June 2018, China was the second largest buyer of US LNG, accounting for approximately 3 mmtpa of US LNG, with Shell being the largest seller. However as the US-China trade dispute escalated, Chinese buyers have gradually reduced purchases of US LNG.
The pace and scale of transformation in the east Australian gas market over the past five years has put gas – both its availability and its pricing – firmly on the country’s political agenda. Global natural resources consultancy Wood Mackenzie today releases its Australia East Coast Gas Market Outlook 2018-2032. The report offers a comprehensive overview of the dynamics shaping the gas market, including the drivers of domestic gas demand, how gas flows will change and price dynamics.
Today China announced retaliatory tariffs on $60 billion worth of American imports, in response to the Trump administration's latest trade threats. The list included a 25% tariff on LNG.
Looking at behind-the-meter, Australia was the biggest residential storage market in the world in 2017, with a tripling of residential storage deployments over the previous year. High retail electricity rates and diminishing or expiring feed-in tariffs have encouraged residential solar customers to choose storage for self-consumption benefits. As a result, over the past few years, Australia has been the preferred testbed for new residential energy storage products, as several technology vendors have first introduced their residential product portfolios in the country.
Following China's imposition of retaliatory tariffs on US goods over the weekend, our experts weigh in on the potential impact the move will have on different commodities.
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