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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.
ExxonMobil putting its entire Gippsland Basin upstream portfolio up for sale represents big news for the Australian upstream and gas market.
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.
US independent Anadarko Petroleum today formally sanctioned its Mozambican liquefied natural gas (LNG) project, Mozambique LNG. Anadarko is developing Mozambique’s first onshore LNG facility, initially consisting of two LNG trains with a total nameplate capacity of 12.88 million tonnes per annum (mmtpa). Feedgas comes from the Golfinho/Atum field, in Offshore Area 1.
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.
The liquefied natural gas (LNG) boom is back. Over the next two years, almost 90 million tonnes per annum (mmtpa) of LNG is expected to take final investment decision (FID) and start construction. New research from Wood Mackenzie show that capital expenditure - for both LNG plant and upstream infrastructure - will total more than US$200 billion between 2019 and 2025. This will provide a major boost to engineering, procurement and construction (EPC) contractors and other providers along the supply chain.
Santos' announced the confirmation of a significant gas resource at Corvus-2 appraisal well. Wood Mackenzie senior analyst Daniel Toleman comments on the announcement.
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.
Sanctioning the Tortue FLNG project, offshore Mauritania/Senegal is a 'major milestone' for BP and its partners
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.
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.
Qatar Petroleum announces plans for a fourth LNG megatrain
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.
In contrast to the 2018 GSOO released today by the AEMO, Wood Mackenzie’s East Coast Gas report identifies a potential gas shortfall between 2023 and 2025, significantly earlier to the GSOO’s estimate of 2030.
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.
Wood Mackenzie estimates LNG trucking capacity in China to double to 38 million tonnes (mt) by 2025. China is the world's largest LNG trucking market. In 2017, 19 mt of LNG was transported via tanker truck from domestic liquefaction plants and LNG import terminals to downstream markets. This volume accounts for 12% of total gas consumption.
In a recent study, Wood Mackenzie forecasts Australia's East Coast gas prices to rise up to 30 percent to between A$10 and A$13 /per gigajoule by the mid 2020s.
As previously forecasted by Wood Mackenzie, 2017 saw a significant recovery in upstream FIDs, with the number of project sanctions more than doubled compared to 2016. Wood Mackenzie expects a similar total this year - circa 30 major project FIDs - supported by continued prudence in industry spending.
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